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Wall Street recovers after a day of tax fears

Fueled by good US indicators, the New York Stock Exchange rallied strongly on Friday after the previous day’s fears of a possible increase in the financial transaction tax.

According to the final results of Wall Street, the Dow Jones finished with a rise of 0.67%, to 34,043.49 points.

The Nasdaq, with a strong technological coloration, jumped 1.44%, to 14,016.81 points.

The S&P 500 in turn rose 1.09% to 4,180.17 points.

By Thursday, all three indices had lost nearly 1% after the press reported that the White House plans to increase taxes on capital gains for the wealthiest, from the current 20% to 39.6%.

Asked by AFP, the Treasury declined to comment.

During the week, after three out of five sessions down, the Dow Jones finally fell just 0.46%, the Nasdaq 0.25% and the S&P 500 0.13%.

Trade was also boosted by good economic indicators in the United States.

Sales of new single-family homes rose in March to their highest level in almost 15 years, with just over 1 million transactions, 20.7% more than in February.

In addition, the services activity index rose to a record (63.1) in April.

Nine of the eleven sectors of the S&P 500 are shown in green, starting with banks (+ 1.85%), materials (+ 1.68%) and information technology (+ 1.44%).

Next week will be one of the richest in earnings announcements from big companies like Tesla, UPS, Alphabet (Google) and Boeing.

Investors will also keep an eye on the outcome of the Central Bank’s monetary meeting on the same day.

Yields on 10-year US debt were stable at around 1.55%.

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