With investors counting down to Donald Trump’s inauguration as President of the United States next Monday, the main Wall Street indices ended the week on a positive note. positive notewith the market anticipating a significant set of changes policies under the new administration.
The industrial Dow Jones added 0.78% to 43,487.83 points, while the S&P 500 gained 1% to 5,996.66 points. The technological Nasdaq Composite jumped 1.5%, to 19,627.91 points.
Results above expected of the largest North American banks and signs that inflation in the United States may be slowing down generated greater exposure to risk and led S&P and Dow Jones to register the biggest weekly increase since election week on November 5. The technological Nasdaq had the best weekly balance since the beginning of December.
Animating this Friday’s session were some of the big tech which corrected yesterday in light of Wednesday’s strong gains. Nvidia rose 3.1% and Broadcom rose 3.5% after Barclays raised price targets for both listed companies.
Intel climbed 9.25%, after the news site SemiAccurate revealed that it had access to an email about another, unspecified company, which would be trying to acquire the entire chip manufacturer.
Among other listed companies with the largest market capitalization, Microsoft added 3.38% in the week and thus puts an end to a series of four weeks of falls, the biggest since August, while Apple lost 1.5% in the week and thus marks the third consecutive week of declines, the biggest since April.
Still supporting a greater appetite for risk was a telephone conversation between the president-elect of the United States, Donald Trump, and the Chinese president, Xi Jinping, in which among the topics discussed were commercial relations, the social network TikTok and fentanyl. The conversation could help to predict the tone of relations between the two countries.
Better-than-expected economic data earlier this week helped “revive the market’s ‘Goldilocks’ narrative (which states that something must fall between reasonable margins, as opposed to reaching extremes) likely caused some exposure to risk“, wrote Emmanuel Cau, strategist at Barclays, in a note seen by CNBC.
Donald Trump’s inauguration will take place on Monday, the day the US stock exchanges will be closed due to Martin Luther King Day, meaning the market’s reaction to Trump’s inauguration speech will only be known on Tuesday. fair. The holiday is always celebrated on the third Monday of January, in memory of the political activist and leader of the American civil rights movement, who was awarded the Nobel Peace Prize in 1964.
Source: www.jornaldenegocios.pt
