Wall Street is starting a new day positively, the last of the month of November. A few hours before the end of the eleventh month of 2024, at least as far as the stock markets are concerned, the New York Stock Exchange is preparing to sign its biggest weekly increase in a year. With a rebound of 7%, the increases are led by the Dow Jones.
Precisely, after the bell this Friday, the Dow Jones it advanced 0.35%, to 44,877.23 points; the S&P 5000.48%, to 6,027.54 points, and the Nasdaq Composite, a 0.69%, to 19,191.97 points.
In the first minutes of trading, the biggest gains in the Dow Jones were those of the Nvidia (+2.86%), Boeing (+1.63%) and Caterpillar (+1.16%). At the same time, the largest declines were those of Merck (-1.27%), Verizon (-0.55%) and Chevron (-0.4%).
Nvidia isn’t the only chipmaker making progress. Most of the sector was dyed green after some US media said next week Joe Biden’s government could announce a new wave of measures to protect the American economy and restrict China’s ability to develop in the field of artificial intelligence.
Applied Materials and Lam Research, for example, advanced more than 2% at the opening.
This is how Wall Street opens
With a few hours to go before the end of the day, it’s going to be the second consecutive positive week for Wall Street. The Dow Jones revaluation was 0.96%; that of the S&P 500, 0.49%, and that of the Nasdaq Composite, 0.31%.
Recall that on Thursday there was no activity on the New York Stock Exchange due to the Thanksgiving celebration. And this Friday, the New York trading room will only open for half a session, so activity will be very limited.
Furthermore, This will be the best month in just a year, i.e. from November 2023, for the Dow Jones and the S&P 500, stimulated by Donald Trump’s victory in the American elections.
The Dow Jones’ rise of 7.08% was greater than the S&P 500’s rise of 5.14% and the Nasdaq Composite’s rise of 5.34%.
