Wall Street is on track for a ninth week of gains
North American stock markets closed higher, thus beginning the final week of the year maintaining the positive tone of the previous eight weeks. Intel has emerged on the rise.
Andrew Kelly – Reuters
Major indexes on the other side of the Atlantic rose at the start of the week, continuing to receive support from expectations that the North American Federal Reserve will begin cutting interest rates as early as March next year.
The Dow Jones Industrial Average closed up 0.43% to 37,545.33 points, hovering around its highest levels ever. In the December 19 session, the Dow Jones Index reached an all-time high of 37,562.83 points in intraday trading and also set a closing high of 37,557.92 points.
The Standard & Poor's 500 index advanced 0.42% to 4,774.75 points this Monday, and the Nasdaq technology index rose 0.54% to settle at 15,074.57 points.
Last week, the three indices recorded gains for the eighth consecutive week. In the case of the global index, it was the largest consecutive series of weekly increases in the past six years, while in the case of the tech-heavy Nasdaq Index and the Dow Jones Industrial Average, this has not happened since the beginning of 2019.
The highlight of today's session was Intel, which closed up 5.21% to $50.5 per share. That was the day the Israeli government agreed to subsidize $3.2 billion in technology for a new microchip factory ($25 billion) it plans to build in the south of that country.
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