Wall Street starts December with strong gains; S&P 500 rises almost 1.50%

The main indices of the US stock market operate with strong increases in their first negotiations in December. Wall Street gains driven by a greater appetite for risk assets, after the setbacks triggered yesterday by comments from the Federal Reserve on inflation.

The market reference, the S&P 500 of the 500 most solid companies, advanced 1.48% to 4,634.59 points, while the Dow Jones, out of 30 industrial giants, rose 1.09% to 34,859.05 units. The index Nasdaq, with a high technological component, moves 1.31% to a level of 15,740.77 units.

“The market in the United States opened with gains, as well as the stock markets of Europe, who want to forget the losses of November. On both sides of the Atlantic investors are finding that the decline marked a time to buy back in the stock market,” explained the firm eToro.

The president of the Federal ReserveJerome Powell said yesterday that current inflation may not be transitory and that it may be necessary to accelerate the reduction of its asset purchases. This backed up bets on interest rate hikes from the US central bank earlier than expected.

After the impact of their comments, the market is also favored by news about the new Omicron variant of the Covid-19. The Israeli authorities affirmed that the vaccine scheme has given an efficient response to resist the new mutation of the virus that has hit the economy.

In economic figures, private initiative in the United States created 534,000 jobs in November, according to payroll processor ADP. The data was slightly above that estimated by analysts. Employment is the second leading indicator, just below inflation, for the Fed.

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