Wall Street opens in positive territory, while the Dow Jones rose 0.39%

NEW YORK, New York.—This Wednesday, the day on Wall Street opened with numbers in green, when the Dow Jones Industrialsits main indicator, rose 0.39%, before the president of the Federal Reserve (Fed), Jerome Powellwill confirm before Congress that there will be a lower interest rates sometime this year.

At the opening

Ten minutes after the opening of the New York Stock Exchangehe Dow Jones stood at 38,734 points, and the selective S&P 500 It rose 0.56%, to 5,106 integers.

The Composite Market Index Nasdaqwhere the main technology companies are listed, grew by 0.81%, up to 16,068 units.

Jerome Powel appears before Congressional committee

The president of the Federal Reserve American (Fed), Jerome Powellwill appear this Wednesday before the Financial Services Committee from House of Representatives to explain the regulator’s decisions on interest rates.

“We think our policy rate is likely to be at its peak during this tightening cycle. If the economy broadly evolves as expected, it will probably be appropriate start cutting rates sometime this year“says the president in the speech he will deliver and which was previously published on the Fed’s website.

Like every six months, Powell appeared today before a House of Representatives committee and tomorrow he will do so before the Senate to explain the latest decisions on monetary policy by the US central bank.

In his initial speech, Powell remained faithful to the regulator’s speech, which has kept rates unchanged since its July 2023 meeting, in a range of 5.25% and 5.5%, its highest level since 2001. All this after eleven increases carried out since March 2022 to control inflation, which exceeded 9% in the summer of that year.

Cryptocurrency market

The Bitcoin cryptocurrencywhich exceeded $69,000 on Tuesday, marking a new all-time high and hours later deflated to $63,000, rose 7.56% this Wednesday, thus exceeding $67,000.

By sectors

Profits predominated, led by public services (0.95%) and technology (0.91%), while the only sector in red was the financial sector (-0.23%).

Among the 30 Dow Jones stocks, the biggest advances were for Salesforce (2.22%) and Intel (1.99%), and the most affected were Goldman Sachs (-0.94%) and JPMorgan (-0.34%).

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