Wall Street ended the week mixed, but with a new Nasdaq record
Wall Street closed this Friday on mixed grounds, and although The Dow Jones and S&P 500 indices ended lowerand the tech-heavy Nasdaq index rose 0.56% to 18,518, an all-time high. In trading, the Dow Jones Industrial Average lost 0.61% to 42,114, while the S&P 500 fell less by just 0.03% to end at 5,808.
He ten year treasury bondswhich rose for three straight months before hitting a record high of 4.25% on Wednesday, fell slightly today to 4.24%.
Thus, on a weekly basis, the Dow Jones (-2.7%) and S&P 500 (-1%) indices have shown growth for six weeks in a row, while Nasdaq up 0.2% for the week. The technology sector, as usual, pulled the stock market with it this week. waiting for a good harvest of results to be announced next week by five of the “magnificent seven” (Alphabet, Meta, Microsoft, Amazon and Apple).
More than a third of S&P 500 companies have already reported third-quarter results; of them, three out of four improved their expectations Wall Street, according to FactSet, is slightly lower than the average for previous years. “The corporate world is doing very well given that interest rates were higher than ever,” said Sylvia Jablonski, head of research firm Defiance ETF, as quoted by the Wall Street Journal.
By sector, the biggest profits were from telecommunications (0.71%) and technology (0.59%), with government services (-1.46%) and financial services (-1.05%) among the losers. Red numbers dominated among Dow 30 companies. This is the biggest drop for MacDonald’s (-2.97%), which is still spooked by an E. coli outbreak at its restaurants, Dow Inc (-2.53%) and Goldman Sachs (-2.27%); Among the winners were Intel (1.52%) and Salesforce (1.29%).
On the other side, Intermediate oil price in Texas It closed today with a weekly gain of 3.7%, helped by geopolitical tensions in the Middle East and uncertainty over the US elections. WTI futures contracts for November delivery This Friday they were revalued by 2.27%. or $1.57 from yesterday’s close to close the day at $71.78.
In other markets Gold rose in price today to $2,760 per ounce; According to CNBC, the rise is because it represents a safe-haven value during a time of great political uncertainty as the United States presidential election date approaches.