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Wall Street opened the week almost flat

Wall Street opened this Monday almost flat. The Dow Jones gained 0.05%, while the selective S&P 500 touched a new record amid optimism about economic recovery.

Several minutes after the beginning of operations on the NYSE, the Dow Jones added 18.48 points to 34,774.87. At the same time, the S&P 500 rose by 0.03% or 1.07 to 4,230.96.

The composite index of the Nasdaq market, listing the leading technology companies, lost a slight 0.03% or 4.05 units, to 13,810.44.

The market opened the week almost unchanged compared to Friday when Wall Street ended with moderate progress in the face of a slower-than-expected recovery in the United States and uncertainty regarding the Federal Reserve’s policy.

Overall, however, investor sentiment remains optimistic regarding the economic recovery after the COVID-19 crisis.

Today, the real estate, energy, and health sectors led the advances. The real estate sector added 0.41%, increased by 0.36%, while the health sector gained 0.18%. On the other hand, non-essential consumer goods companies lost 0.18%). Commodities decreased by 0.14%, and technology yielded 0.10%, posting the highest losses.

Among the thirty Dow Jones stocks, the advance of Visa, IBM, and American Express stood out. Visa added 1.84%, IMB gained 0.69%, and American Express increased by 1.84%. As for losses, Intel dropped by 0.51%, MSD yielded 0.47%, and Apple lost 0.44%.

AMC grew by more than 14% on Monday. Meanwhile, the software group BlackBerry and the retailer GameStop climbed by about 13%.

 

This year will be difficult for investors to manage

Gergely Majoros, a member of the investment committee at Carmignac, believes this year will be transitory for monetary policy. After adjusting to the central banks’ support, the transition will be difficult for investors to manage. 

Janet Yellen, US treasury secretary, stated that it would be a plus if the US president’s multi trillion-dollar fiscal stimulus led to slightly higher rates. 

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