Wall Street closes in the red despite good labor data
Wall Street closed this Thursday in red. The Dow Jones, its main indicator, fell 0.07% despite a wave of data that reflects the economic recovery in the US.
At the close of the NYSE session, the Dow Jones decreased by 23.34 points, to 34,577.04. Meanwhile, the selective S&P 500 yielded 0.36% or 15.27 points, to 4,192.85.
The Nasdaq Composite Index, listing the leading technology companies, fell by 1.03% or 141.82 points, to 13,614.51.
By sectors, the losses were led by non-essential goods companies, which lost 1.22%, and technology companies with a plunge of 0.51%). The highest gains were for public services companies.
Uncertainty about the Fed’s monetary policy worries investors
The New York stock market has received good economic data in the United States. However, it reinforced the uncertainty about the next steps of the Federal Reserve in terms of monetary policy.
The number of applications for unemployment benefits dropped last week for the first time from 400,000 since the pandemic began. Meanwhile, the private sector added 978,000 contracts in May.
The market already has the expectations set in the May employment report to be released tomorrow by the authorities, and it will foreseeably reflect an improvement.
Meanwhile, the Fed has announced plans to sell corporate bonds and index funds it acquired last year. Many investors have interpreted it as a sign of change, despite its reduced value.
Among the 30 listed on the Dow Jones, the decline of Intel, Boeing, Salesforce, and Apple stood out.
On the positive side, Dow Inc and MSD were the ones that rose the most.
The AMC cinema chain, which yesterday doubled its value on the stock market, dropped by almost 18% today. It happened after announcing a sale of shares with which it has raised nearly 590 million dollars.
There was significant volatility in other shares associated with AMC and linked to “memes” and social networks, such as GameStop, Blackberry, or Sundial Growers.
