Key codes Wall Street
Closed at record levels on Tuesday. The S&P 500 and Nasdaq set records for the fourth consecutive session. The Dow Jones Industrial Average rose 0.39% to 36,052 points and closed above 36,000 points for the first time.
The Sao Paulo Stock Exchange (B3) closed today due to the All Souls holiday. In the United States, the Nasdaq was up 0.34% at 15,649. S&P was up 0.37% at 4,630 points.
As the economy continues to recover from the corona virus outbreak, third-quarter earnings are better than expected for U.S. companies, analysts said.
“There is a strong foundation for the performance of the stock market,” said Bill Norde, senior investment director at US Bank Wealth Management.
Expectations are now shifting to Wednesday. Tomorrow, the Federal Reserve (Federal Reserve Bank of the United States) is expected to approve plans to reduce the $ 120 billion monthly bond purchase program implemented to help the economy during epidemics. Investors will also focus on feedback on interest rates and how stable the recent rise in inflation has been.
Expectations around the central bank meeting also affected oil prices. The future in New York is down 0.2% today.
Meanwhile, the Organization of the Petroleum Exporting Countries and its allies (OPEC +) will meet over the weekend to define production policy. Despite pressure from the United States and Japan, countries such as Kuwait have said they do not need to add barrels fast.
Oil prices rose to a seven-year high in October and demand is now over 100 million barrels a day, the last seen before the Govt-19 epidemic, the PP said.
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