Wall Street backs down; Nvidia shares soar more than 9%

Wall Street backs down; Nvidia shares soar more than 9%

Investors are keeping bets on upcoming US interest rate hikes ahead of schedule by the Federal Reserve.

The main indices of the US stock market are trading at a loss this Thursday. Wall Street retreats in a market that maintains its bets on increases in interest rates from the Federal Reserve (Fed) earlier than expected and after a data on unemployment higher than expected.

The Labor Department released early that the number of new weekly jobless support applications filed the previous week was 268,000, slightly higher than the 260,000 analysts had expected. However, that figure remains close to pre-pandemic numbers.

In this context, the S&P 500 benchmark index , made up of the 500 most solid issuers, lost -0.10% to 4,683.97 points. The main Dow Jones , made up of 30 industrial giants, moves -0.48% to 35,758.67 points. The Nasdaq technology yields -0.15% with a level of 15,898.14 units.

Investors fear that the central bank will decide to raise the price of money earlier than planned, due to the constant signs of economic strength in the United States, amid persistent inflationary pressures. It is also attentive to the trilateral meeting Mexico, Canada, the United States.

Among the broadcasters, the behavior of Nvidia stands out , which gains more than 9 percent. The microprocessor manufacturing company reported sales of $ 7.1 billion, better than the estimated $ 6.68 billion in the fourth quarter, which means a 50% increase in annualized terms.

Samuel Edwards
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