NEW YORK, New York.— The day on Wall Street opened this Monday in mixed terrainwhen the Dow Jones Industrial Average rose 0.25%, while the Nvidia technology stocks“the pretty girl” of stock market Thanks to the artificial intelligence (IA), they were retreating once more.
At the opening
Ten minutes following the opening of the New York Stock Exchangehe Dow Jones was located at 39,248 points; the selective S&P 500 fell 0.04% to 5,461 units, and the technological Nasdaq fell 0.25% to 17,644 units.
What is affecting the markets today?
The New York Stock Exchange comes from a earnings weekdriven by the actions of the chipmaker Nvidiawhich reached the 3.34 trillion dollars in market capitalization and briefly surpassed Microsoft on Tuesday as the most valuable company in United States.
However, according to analysts, there are signs of exhaustion in the market, especially with consecutive asset sales by Nvidia: the company opened this morning with a drop of 4% and thus extended its losses of recent sessions.
The AI boom has boosted the stock market this year, although some investors fear that the euphoria surrounding the technology is part of a bubble that will sooner or later burst.
“Despite concerns regarding an AI bubble, earnings growth is largely on track with expectations. Earnings around AI companies remain extremely strong,” the analyst noted on Monday. Tom tries in his daily report Sevens Report.
Beyond AI, Bitcoin, the most widely used cryptocurrency on the market, briefly fell before the stock market opened and was at $60,666, its lowest level in more than a month.
According to analysts, the possibility of the Federal Reserve (Fed) of the USA carries out a reduction in the interest rates in September might encourage investors and stabilize the price of bitcoin.
In this regard, traders are awaiting the publication on Friday of the personal consumption expenditure price index, one of the central bank’s key indicators.
By sectors
Almost all of them opened in the green, with notable gains in the energy sector (1.33%) and raw materials (0.58%), while the only sector that fell was the technology sector (-0.96%).
Among the 30 Dow Jones stocks, International Business Machines (2.06%) and Chevron (1.42%) led the gains, while Salesforce (-1.55%) and Microsoft (-0.52%) lost the most.
In other markets, the Texas oil (WTI) opened on Monday with a drop of 0.14%, to $80.62 a barrel, with the market awaiting a possible strengthening of gasoline demand in the United States.
You may also be interested in: “Dollar price today, Monday, June 24, 2024”
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2024-07-04 00:44:09
