Dow Jones spins seven weeks with falls, a streak not seen since 2001

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May 13, 2022 | 4:30 pm

The actions of wall street closed the day higher, however, recorded weekly declines of more than 2%, with the Dow Jones Industrial Average marking a losing streak not seen since 2001.

During the day, the dow jones advanced 1.47% to 32,196.66 units, breaking a six-day losing streak, however, recorded a weekly drop of 2.14%, its seventh consecutive week with losses, a streak not seen since July 1, 2001, according to data from investing.com.

On the other hand, the S&P 500 It rose 2.39% to 4,023.89 units, with a weekly decline of 2.41%, marking a six-week losing streak, a period not seen since June 5, 2011.

Meanwhile he Nasdaq Composite gained 3.82%, to 11,805.00 units, its best day since November 4, 2020, but ending the week down 2.80%, spinning six weeks with losses, a trend not seen since November 11, 2011.

In Mexico the Index of Prices and Quotations (CPI) of the Mexican stock exchange (BMV) ended the day with an advance of 0.55%, to 49,579.9 points, marking four days higher; with Banorte, Regional, Volaris, Banco del Bajío and Genomma as the winning companies.

During the week the index gained 0.08%snapping a five-week losing streak.

Foreign stock markets closed higher. In Europe, the Stoxx Europe 600 pancontinental rose 2.1%. In Asia, the Hang Seng of Hong Kong added 2.7%, while the Nikkei 225 of Japan rose 2.6%. The Shanghai Composite won 1%.

On the other hand, in the bond marketThe yield on the benchmark 10-year US Treasury bond rose to 2.932% from 2.815% on Thursday, reversing a four-day yield slump that came as investors returned to stockpiling bonds.

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Technological close in green

Technology stocks were among those that led the rally. Goal Y Alphabet they gained 3.9% and 2.8%, respectively. Manzana rose 3.2%, moving away from bear market territory and Netflix it won 7.6%.

Tesla rose 5.7%, while battered semiconductors Nvidia Y amd they also rose more than 9%. PayPal advanced 6.1%.

On the other hand, Twitter fell 9.7%, after Tesla CEO, Elon Muskwill tweet that his deal to buy the social media company and take it private is ‘temporarily’ on hold, pending details on the number of fake accounts on the social media platform.

Musk later tweeted that he was committed to the acquisition, helping Twitter trim losses of more than 20%.

Nike Y Salesforce they closed with 4.7% and 4.1%, which led the Dow Jones higher. American Express Y boeing they added more than 3% each, pushing the index even higher. Robin Hood increased 25% and Duolingo jumped 34%.

On the other hand, bitcoin rose 4.7% to around $29,818, but marked its sixth week of declines, a streak not seen since 2014. Furthermore, elsewhere in the markets cryptocurrenciesthe beleaguered stablecoin TerraUSD continued to spiral down, trading at 12 cents.

One of the so-called stable coins for its typical peg to 1 dollar, TerraUSD It broke that level last weekend, following a token selloff. The token brother of him, Moonalso fell precipitously this week, trading half a penny, down from more than $60 on Monday.

Meanwhile, in the commodity market, oil prices ended higher and posted a slight weekly gain, as they were buoyed by a record close in gasoline.

Also read: Crypto Market Clears $200 Billion; bitcoin touches 26,000 dollars

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