American actions on Wall Street rose slightly this Wednesday, since the strength of technological actions compensated for the falls caused by the weak economic data that exacerbated concern about the impact of the Erraphic commercial policies of the Trump administration.
The services sector was first contracted in almost a year in May, while companies paid higher supplies prices, which recalls that the economy was still at risk of experiencing a very slow period of growth and high inflation.
The National Employment Report of ADP showed that US private employers incorporated the least number of workers in more than two years in May. Investors expect the non -agricultural payroll data on Friday to obtain more signals on how commercial uncertainty is affecting the US labor market.
“I think the ADP figure shows very short -term volatility, but I don’t think it is significant until we see the number of payrolls,” said Larry Tentarelli, chief technical strategist of Blue Chip Daily Trend Report.
Washington doubled tariffs on 50% steel and aluminum imports this Wednesday, the same day that President Donald Trump wanted its commercial partners to present their best offers to prevent other import taxes from importing into force in early July.
The attention of investors focuses on tariff negotiations between Washington and its commercial partners, and Trump and Chinese leader, Xi Jinping are expected to speak this week, while the tensions between the two largest economies in the world intensify.
May was the best month for the S&P 500 index and Nasdaq, with a strong technological presence, since November 2023, thanks to the softening of Trump’s hard commercial posture and the optimistic results reports.
The S&P 500 remains less than 3% of its historical maximums achieved in February.
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Technological Hewlett and Globalfoundries lead Wall Street ups
Barclays joined other stock market houses by raising its end of the year price for the S&P 500, which points to a decrease in commercial uncertainty and the expectations of standardized growth of profits in 2026.
At 10:36 am et, the industrial average Dow Jones rose 88.09 points (0.20%), up to 42,605,07 points; The S&P 500 won 17.36 points (0.29%), up to 5,987.73 points; and the Nasdaq Composite advanced 58.41 points (0.31%), up to 19,459.09 points.
Eight of the main subsectors of the S&P 500 rose, led by communication services, with an increase of 1.2%, while information technology actions advanced 0.4%.
Hewlett Packard Enterprise actions rose 1.1%, thanks to the demand of their artificial intelligence servers and its hybrid cloud segment, which allowed him to overcome the estimates of income and benefits of the second quarter.
Globalfoundries rose 2.2% after the chips manufacturer announced plans to increase its investments to 16,000 million dollars.
Tesla fell 3.8%. The sales of the electric vehicle manufacturer fell for the fifth consecutive month in the main European markets.
Wells Fargo shares rose 1.2% after the US Federal Reserve eliminated the asset limit of 1.95 billion dollars imposed in 2018 after years of errors.
Crowdstrike cybersecurity company actions fell 4.7% after predicting quarterly revenues lower than estimates.
Dollar Tree fell 10.2% after the discount store operator predicted that its tight benefits of the second quarter would be up to 50% lower than those of the previous year due to the volatility driven by tariffs.
The upward actions exceeded the downward actions in a proportion of 2.02 to 1 in the New York Stock Exchange and from 1.41 to 1 in the Nasdaq.
The S&P 500 registered 19 new maximums of 52 weeks and no new minimum, while the Nasdaq Composite registered 63 new maximums and 23 new minimums.
With Reuters information
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