Wall Street trades up driven by a rebound in banks and the announcement of lower inflation in the United States

Wall Street The day started this Tuesday in green and the Dow Jones des Industriels, its main indicator, rose by 1.04% boosted by the financial sector which rebounded today after days of nerves for the Silicon Valley Bank collapse (SVB) and coinciding with the US Inflation Data FEBRUARY.

Ten minutes after the start of operations at the NYSEthe Dow Jones gained 331.99 points, to 32,151.13 units, while the selective S&P 500 rose 1.52% or 58.46 whole, to 3,914.22 points.

The composite market index Nasdaqwhere major technology companies are listed, climbed 1.83% or 204.94 units, to 11,393.78 whole.

The Wall Street trading floor was trying to shake off five days of jitters and tension today since shares in the California bank tumbled last Thursday SVBwhich was closed the following day by the American authorities, and which affected the entire financial system with repercussions for the entire economy.

The banks most affected by the intervention of the SVB and the Signature Bankclosed last Sunday, rebounded strongly today after seeing how its shares have fallen in recent days, while various credit agencies such as Moody’s they singled them out as possible candidates for further closures.

In this way, First Republic increased by 48% after opening, the bank western alliance increased by 43%, PacWest rebounded by 53%, Comedy increased by 11% and of Zion increased by 15%.

In the same way that the big financial companies were weighed down by the falls of these banks, today they have also joined the rises and this morning the titles of JPMorgan Chase increased by 1.57%, Bank of America rebounded 2.93%, Citigroup increased by 5.27%, Wells Fargo 5.1% and American bank and 4.3%.

On the other hand, the Bureau of Labor Statistics (BLS) announced that the year-over-year inflation rate in UNITED STATES it continued to fall in February, for the eighth consecutive month, and stood at 6%, or four tenths less than in January.

However, in monthly terms, consumer prices rose by four ticks, at a time when the Federal Reserve (Fed) is under scrutiny for its inflation-fighting measures, and not anymore after the debacle of the SVB bank and fears of a banking crisis.

By sectors, gains in finance (2.36%) and communications (2.26%) stood out, followed by materials (1.96%) and technology (1.83%), while ‘none started the day negative.

Among the 30 Dow Jones stocks, the most favored companies were Salesforce (4.4%), American Express (3.43%) and Goldman Sachs (3.19%), while only three opened in red with Travelers (-0.61%) as the worst placed.

(With information from EFE)

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