Wall Street advances strongly, but extends weekly losing streak


The top three major stock indices of USA The negotiations closed this Friday with strong advances, one day after a session of great volatility. However, it was not enough to offset the accumulated falls in a week of inflation figures in the largest economy.

The reference index S&P 500, made up of the shares of the 500 companies with the greatest strength in the market, gained 2.39% to a level of 4,023.89 units. The index dow jones, of 30 industrial giants, advanced 1.47% to 32,196.66 points. The nasdaqwith a high technological component gained 3.82% to 11,805 points.

The US consumer price index showed an annual advance of 8.3% in April, according to data from the Commerce Department. The figure was lower than the 8.5% figure for March, but higher than the estimated 8.1%. Consumer confidence in that country fell to a low of almost 11 years.

Inflation and the possibility that Federal Reserve continue to raise interest rates has mostly hit growth and mega-cap companies. Added to this factor, the probability of a low growth of the economy has increased the volatility in the stock markets.

In the week, its sixth negative in a row, the S&P 500 accumulated a loss of -2.41 percent. In its seventh consecutive weekly decline, the Dow Jones Industrial Average fell -2.14 percent. The Nasdaq, also on a streak of six consecutive weeks in the red, moved -2.80 percent.

On the day, a sharp drop in the shares of the social network Twitter stood out, which lost more than 16% and ended with 9.67% less at 40.72 dollars. The movement was a reaction of investors to the announcement of Elon Musk, who decided to suspend the process to buy the company.

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