STOCK EXCHANGE: Wall Street opened higher as the market chewed on debt ceiling negotiations and recent economic figures

After about 10 minutes of trading, the Dow Jones was up 0.54 percent, the S&P 500 was up 0.48 percent, and the Nasdaq was up 0.6 percent.

Yesterday, Wall Street ended with mixed readings. The Dow Jones fell 0.11 percent, while the S&P 500 gained 0.88 percent and the Nasdaq 1.71 percent.

In the United States, there is tension regarding the progress of the debt ceiling problem. Speaker of the US House of Representatives Kevin McCarthy said yesterday that no agreement has been reached. CNBC:n according to the parties are close to a solution that would raise the debt ceiling for two years.

A solution must be found soon, because the federal government could be insolvent as early as the first of June.

A lot of economic figures from the United States were also published today. Private income grew by 0.4 percent as expected, but private consumption grew more than expected. Private consumption grew by 0.8 percent, while the consensus forecast was 0.5 percent.

Durable goods orders increased by 1.1 percent, while the forecast was for a one percent decrease. Wholesale inventories fell by 0.2 percent, while economists had expected them to remain unchanged.

The semiconductor giant Nvidian’s stock rose by almost 25 percent yesterday after the company announced its results on Wednesday. The company’s figures for the beginning of the year significantly exceeded analysts’ expectations. In connection with the results announcement, Nvidia said that it expects sales of 11 billion dollars for the quarter ending in July, while the consensus of analysts expected only 7.2 billion dollars.

Nvidia’s result boosted other companies in the semiconductor and artificial intelligence sectors as well.

After about 10 minutes of trading, Nvidia’s stock was down about 0.5 percent.

By Editor

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