Wall Street recovers at the last minute and the Dow gains 0.70% at the close

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This content was published on April 25, 2022 – 20:49

United Nations, Apr 25 (EFE) .- After sailing almost all day with losses, Wall Street rallied this Monday in the final stages of the stock market session and the Dow Jones Industrials, its main indicator, closed with a rise of 0, 70% and with significant increases in the technology sector, which has been hit hard recently.

At the end of trading on the New York Stock Exchange, the Dow added 238.06 points to 34,049.46, while the selective S&P 500 gained 0.57% or 24.34 units to 4,296.12.

The composite index of the Nasdaq market, where the main technology companies are listed, advanced a clear 1.29% or 165.56 integers and ended at 13,004.85.

The New York parquet experienced a great comeback towards the end of the day, after having registered strong losses throughout the session amid concerns about the economic impact of the measures to combat covid-19 in China and a flight towards values insurance like US government debt.

The technology and communications companies were the ones that pulled the market, with increases above 1.40% that offset the sharp drop in the energy sector, dragged down by a clear drop in the price of oil.

Twitter shares closed up 5.66% to $51.70 after announcing that it accepted millionaire Elon Musk’s buyout offer for about $44 billion.

Musk will pay $54.20 per share for the social network, which will delist once the deal is complete.

Shares of Tesla, the electric vehicle company led by the businessman, closed down 0.70%, partially recovering from the momentary drop they experienced just when the sale of Twitter was confirmed.

Other tech giants such as Microsoft and Google parent Alphabet ended the session up more than 2%, with investors taking advantage of recent declines in the tech sector to snap up stocks.

Among the thirty Dow Jones stocks, the biggest gain was for Johnson & Johnson (2.46%), followed by Microsoft (2.44%) and American Express (1.97%), while the biggest losses were for Verizon (-3.14%) and Chevron (-2.15%).

Last Friday, Wall Street had suffered its worst day since the end of 2020, amid fears of the effect that the next rise in interest rates by the US Federal Reserve (Fed, central bank) may have. , which seeks to combat inflation with an increase in the price of money.

In other markets, Texas oil today registered a drop of 3.46%, to 98.54 dollars a barrel, and at the close of the Stock Exchange the yield on the 10-year US Treasury bond fell to 2.812%, gold fell to 1,898.9 dollars an ounce and the dollar gained ground against the euro, with a change of 1.071. EFE

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