Sunday, April 11, 2021
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Home Business Powell reassures investors and drives Wall Street to new records - Stock...

Powell reassures investors and drives Wall Street to new records – Stock Exchange

The Dow Jones advanced 0.17% to 33,503.57 points, very close to the historic closing high of 33,519.17 points recorded last Monday.

The extended S&P 500 index continues to shine and ended the day with a new record thanks to an increase of 0.42%, to 4,097.17 points. During the session there was a maximum intraday of 4,098.19 points.

Farther from the February records, when it surpassed 14,000 points, the Nasdaq Composite was, however, the “champion” of today’s earnings. The technological index climbed 1%, ending the day at 13,829.31 points.

Supporting the day’s gains were the words of the United States Federal Reserve (Fed) president. Jerome Powell assured that the institution is ready to react and has the necessary instruments if it considers that inflation expectations “persistently and materially advance to levels above which we are comfortable”.

Fears of rising inflation due to the Biden Administration’s $ 2.9 billion stimulus plan have penalized US stocks, with the Nasdaq being the most punished index.

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However, enthusiasm was dampened after the second unexpected rise in the number of new unemployment benefit applications in the United States, which shows that the recovery in the labor market is still incipient and is not consolidated.

Among the listed companies that today appreciated, names such as Tesla (1.91%), Apple (1.92%), Amazon (0.61%), Microsoft (1.34%) and Alphabet (0.51%) stand out ). The company founded by Bill Gates and the parent company of Google has renewed absolute records. Facebook slid 0.02%, easing from historic highs.



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