Tuesday , November 24 2020

Wall Street closes thanks to oil and technology – Observer



The New York Stock Exchange ended higher on Thursday due to the recovery of oil prices and Apple, in a context marked by optimism about an upcoming settlement of the China-US trade dispute. Final results from the session indicate that the selective Dow Jones Industrial Average received 0.83% to 25.289.27 points.

Stronger was the progress of the other flagship indices, with Nasdaq technology rising 1.72%, ending at 7,259.03 units, and the expanded S & P500 advanced 1.06% to 2.730.20. The rise of Wall Street "is mainly due to the price of Apple and oil," says Maris Ogg from Tower Bridge Advisors.

After a modest recovery on Wednesday, oil prices continued to rise on Thursday and recovered steadily from a real dump that saw the price of New York's listed oil impact in 12 consecutive sessions, a record falling.

The most important recipients of the convalescence this Thursday were energy values, whose sub-indices that combined those in the S & P500 increased 1.48%, which was the second largest sector's increase in the broader index during the day.

The under-index, which was valued more, was the technical value thanks to Apple's strong progress, which increased 2.47%. The Apple brand, a key person in New York Square, recovered Thursday from some of the strong losses it has accumulated since the beginning of October, which already gives up to 20%, as a result of disappointing forecasts for the year as a whole.

Apple has been a cause of falling index in recent days, with losses affecting the technology sector and the market as it is the main sector on Wall Street. "The market may be close to a low, and we may be heading for a more pronounced recovery if the oil stabilizes and rhetoric about the trade war is improving," said Peter Cardillo in Spartan Capital.

In this regard, investors have just favored a wind of optimism about the solution of the trade dispute between Washington and Beijing, according to media reports, pointing to China's concessions to the United States a few days before a summit of 20 major economies in the world where leaders of the two countries come to meet.


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