Wall Street closed today in green and the Dow Jones industrials gained 1.27%, buoyed by hopes that inflation from the USA has arrived to its peak.
At the end of the trading on the New York Stock Exchange, the Dow Jones rose 424.38 points to 33,761.05, and the selective S&P 500 added a 1,73% or 72.88 integers, up to 4,280.15.
The Nasdaq Composite Market Index, meanwhile, advanced the most, rising 2.09%, or 262.27 units, to 13,047.19.
The key factor for this increase was the improvement in the inflation rate in the United States, which fell 6 tenths in July and stood at 8.5% year-on-year, especially thanks to the fall in gasoline prices.
The positive news has boosted investor confidenceleading some to believe the recent gains are more than just a typical bear market rally.
Read: Fuel prices remain unchanged
“We are not aiming for the market to reach new highs this year, but we don’t would be surprised to see a race toward peaks as inflation declines and Federal Reserve slows pace rate hikes,” Michael Darda, chief economist and market strategist at MKM Partners, said in a note.
All sectors closed in green, with the highest profits being non-essential goods (2.3%), technology (2.07%) and communications (2.02%).
Among the 30 values of the Dow Jonesthe only company in red was the pharmaceutical company Johnson & Johnson (-1.1%), which yesterday announced that in 2023 will suspend the sale of its powders talc for baby worldwide following receiving thousands of complaints about product safety.
While that companies with more profit were Walt Disney (3.3%), Merck & Co (2.09%) and Apple (5.15%).
In other markets, the Texas oil fell 2.4% to 92.09 dollars a barrel and, at the close of the trading session, the yield on the 10-year US Treasury bond fell to 2.83%, gold rose to 1,818 dollars an ounce and the dollar gained ground against the euro, with a change of 1.0256.
