Wall Street opens in red, attentive to European markets and the Fed’s movements

Wall Street opened this Friday in red as investors remain attentive to European stock markets and assimilate the decision of the US Federal Reserve (Fed) to keep interest rates stable.

Ten minutes after the trading floor opened, the Dow Jones Industrial Average fell 0.36% to 38,508 points; The selective S&P 500 fell 0.25%, to 5,420 units, and the technological Nasdaq fell 0.17%, to 17,637 points.

Traders are eyeing pressure on European assets, especially the decline in French stocks and the spread between French and German bond yields.

On the other hand, this Wednesday the Fed met expectations and kept rates at their current range of 5.25 to 5.5%, but forecast only one cut for the remainder of the year, two less than predicted in March.

At the corporate level, this morning Tesla fell a slight 0.09%, after on Thursday its shareholders approved the payment of financial compensation of around $50 billion to its CEO, Elon Musk.

In addition, the American software company Adobe soared 14% in the early stages of the stock market after publishing quarterly results better than expected by analysts.

By sector, losses predominated, led by the industrial sector (-1.11%) and raw materials (-0.57%), while only communication opened in green (0.2%).

Among the 30 Dow Jones stocks, Salesforce (1.39%) and Chevron (0.27%) led the advances, and the falls of Caterpillar (-2.06%) and Travelers (-1.03%) stood out.

Likewise, the yield on the benchmark 10-year Treasury bond fell this Friday to 4.21%.

In other markets, Texas oil (WTI) opened this Friday with a rise of 0.41%, up to $78.94 a barrel, on its way to closing its best week in more than two months and with the prospect of having a tighter in the third quarter.