Wall Street opens with gains and the Dow Jones rose 0.10%

NEW YORK, New York.— This Wednesday, the day on Wall Street opened in green numbers, when the Dow Jones Industrialsits main indicator, rose 0.10%while the market tries to recover from the powerful losses of yesterday’s session, Tuesday, encouraged by the inflation data in Januarywhich did not meet analyst expectations.

At the opening

Ten minutes following the market opened, the Dow Jones stood at 38,310 points, and the selective S&P 500 It rose 0.38%, to 4,971 integers.

For its part, the market composite index Nasdaqin which large technology companies are listed, gained 0.53%, up to 15,739 units.

What affects the markets today?

Yesterday Tuesday, the United States Bureau of Labor Statistics reported that the rate of inflation fell once more in January to 3.1%, while analysts predicted a drop to 2.9%, which raised doubts regarding the possibility that the Federal Reserve (Fed) carry out several interest rate cuts this year.

Consequently, investors believe that the date for first rate cut will be postponed until June 12instead of May 1, according to the CME Group’s FedWatch Toolwhich follows the movements of the central bank.

20% increase in Lyft vehicles

In the business field, this morning the powerful rise of a 20% of the car rental company Lyftmaintaining some of the gains it made yesterday, when its stock soared as much as 60% following it released its earnings report with an over-zero on one metric, which was later corrected.

Short-stay accommodation platform

For its part, the actions of the platform Airbnb short stay accommodations They fell 4% following publishing their 2023 results yesterday, when they obtained net profits of 4.8 billion dollars in 2023 – an annual increase of 152% compared to 2022 – and a total turnover of 9.9 billion dollars, 18% more ), although it recorded losses in the fourth and last quarter due to its fiscal problems in Italy.

By sectors

Gains predominated, led by the communications sector (0.76%) and the industrial sector (0.75%), while losses went to the essential and non-essential goods sector, which lost 0.34% and 0.14%, respectively.

Among the 30 Dow Jones stocks, Salesforce (1.45%) and Intel (1.07%) led the gains, while the biggest losses were Home Depot (-0.81%) and Walmart (-0.6%).

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