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Wall Street Opened Mixed in the Last Session of a Volatile Week

Wall Street opened Friday mixed. The Dow Jones Industrial Average index lost 0.09%. Investors were still trying to find a clear direction to exit the economic crisis.

The Dow Jones fell 24.48 points to 27,877.50, while the S&P 500 was left only a few tenths, to stand at 3,360.22.

The Nasdaq market’s composite index, in which the main technology companies are listed, gained 0.5% and stood at 10,966.21 points.

The beginning of the trading day was marked by volatility.

The New York stock market opened with investors concerned about the complicated economic outlook described on Wednesday by the Federal Reserve. The Fed declared that it would keep interest rates close to 0% until 2023, by the time it expects to meet its target 2% inflation.

This measure, which typically would have pushed the markets, has not done so this time. As it indicates that the US’s recovery is still weak and with many uncertainties.

Investors are also waiting to see if Democrats and Republicans agree to approve a new stimulus package against the economic impact.

Officials in the Donald Trump administration have assured the Democratic counterpart that they are willing to accept a $2.2 trillion stimulus plan, down from the $3.5 trillion proposed by Democrats.

Contradictory messages about a future coronavirus vaccine were not helping the market either. As US President Donald Trump promising wide distribution before the end of the year. One of the top government experts warned that this would not happen until 2021.

Energy companies (-1.61%) and real estate companies (-0.77%) were affected the worst. However, all Wall Street sectors started the day in the red, including technology.

Texas oil rose to over $41 a barrel. The gold advanced to $1,953.90 an ounce. 

The yield on the 10-year Treasury bond dropped to 0.0171%

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