USA: Slight increases on Wall Street, S&P500 at its highest in 2023
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Tuesday’s session on US stock markets ended with slight increases in the main indices, and the S&P 500 reached its highest level in 2023.
The Dow Jones Industrial closed up 0.03%. and amounted to 33,573.28 points.
The S&P 500 ended the day up 0.24 percent. and amounted to 4,283.85 points.
The Nasdaq Composite rose 0.36%. and closed the session at 13,276.42 points.
“We are potentially moving towards a more risk-free environment again. I see a scenario where the growth prospects of the economy look increasingly ambitious both in Europe and in the United States, where suddenly central banks will face the dilemma of the need to support GDP growth,” said Stuart Cole, chief macroeconomic economist at Equiti Capital.
BMO analysts raised their forecast for the S&P500 index to 4550 points.
“We believe that the predicted recipe for disaster simply does not exist. So, from our perspective, all the concerns that hurt the market performance in 2022 are slowly starting to subside,” Chief Investment Strategist Brian Belski wrote in a note to clients.
Apple shares fell 0.2 percent. The company’s stock price hit an all-time high on Monday as the company debuted its highly anticipated virtual reality headset as well as new software at its annual Worldwide Developer Conference.
Advanced Micro Devices rose 5 percent. after Piper Sandler raised the price target for the company’s shares to $150.
Coinbase has lost more than 12% of its value after the U.S. Securities and Exchange Commission launched an investigation against the company.
After about 2 percent health care companies Merck and UnitedHealth declined.
In oil, July WTI futures are trading at $71.53 a barrel, down 0.86%, while August Brent futures are down 0.86%. up to USD 76.05/b. (PAP)
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