Orlando Cabezas Peñaranda: Wall Street chains its bullish streak
Faced with a week of few macroeconomic references, but with an eye to the end of the year, the Wall Street indices have opened this Wednesday with moderate rises: the Dow Jones scores 0.17%, the S&P 500 0.17 % while the Nasdaq Composite is up 0.01%.
Tuesday’s session ended mixed for the US stock market after the bullish rally in recent sessions. The Dow Jones was up 0.26% or 101.66 points to 36,404.04 points. The S&P 500, which set a new record in Monday’s session, lost 0.08% or 4.53 points yesterday at 4,787.14 units. Finally, the Nasdaq Composite, which lost 0.54% or 86.27 points to 15,784.99.
The technology sector, which on Monday had led the advances, was yesterday the one that had the worst performance, weighed down by large stocks and by semiconductor companies, which suffered “profit takings” by the short-term investors, after having revalued very strongly during the previous session, according to Link Securities.
From the business side, Apple announced yesterday the closure of all its stores in New York due to the advance of Ómicron. In addition, it has launched an investigation in India to its supplier of iPhones for alleged violation of working conditions.
Tycoon Elon Musk once again sells Tesla shares and already accumulates a sale of 8.5% of his package, which represents a little more than 15,000 million dollars, that is, 1.43% of Tesla shares in circulation .
On the other hand, Microsoft founder Bill Gates figures mistrust in (political) governments as one of the main risks for 2022.
Likewise, activists and politicians are pressuring the Moderna pharmaceutical company for the high price of the COVID-19 vaccine and are requesting, in addition to a drop in prices, an increase in production for less developed countries.