June 23, 2024

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Wall Street shrugs off losses despite pressure from inflation and employment data

Wall Street shrugs off losses despite pressure from inflation and employment data

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Wall Street Opens this Thursday with minor setbacks and Dow Jones Industrials, Its main index fell 0.3% after closing the previous day with a new record and after knowing positive economic data.

in the middle of the session New York Stock Exchange, Dow Jones It fell 114.17 points to 35,370, while the S&P 500 rose 0.04%, or 1.96 integers, to 4,449 integers. Composite Market Index NasdaqIn which major technology companies were listed, it rose 0.32%, or 42 units, to 15,075 points.

The market started today practically flat after hitting all-time highs on Wednesday Dow Jones and Standard & Poor’s 500, which benefited from good July inflation data in the US.

Rising prices has been one of the recent concerns for investors who fear inflation will lead to Federal Reserve (Fed) To cut stimulus policies, although this did not hinder progress on Wall Street.

In July, annual inflation in the US remained at 5.4%, in line with expectations, which reassured the markets.

core values

It was also known this Thursday that the weekly number of jobless claims in the country fell last week to 375,000, compared to 387,000 in the previous week, according to data from the Bureau of Labor Statistics (BLS, in English).

The four-week average number of new procedures, a measure that compensates for weekly ups and downs, rose to 396,250, compared to the 394,500 recorded up to the previous week.

Among the 30 stocks, the largest gains were for Goldman Sachs (0.58%), IBM (0.54%) and JPMorgan Chase (0.45%), while the largest losses were for Visa (-1.18%), Intel (-1.11%) and American Express (-0.52%).

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In other markets, Texas oil fell to $69.01 a barrel, gold fell to $1,748.84 an ounce, 10-year Treasuries rose to 1.367%, and the dollar rose against the euro, with a change of 1173.