Wall Street opens in the red and the Dow Jones falls 0.68%

NEW YORK, New York.- This Tuesday, the day on Wall Street opened in the red, when the Dow Jones Industrial Averageits main indicator, fell 0.68% to 38,605 points, while the Federal Reserve (Fed) begins its two-day meeting monetary politics.

At the opening

Eleven minutes following the opening of the New York Stock Exchangethe selective S&P 500 fell 0.38% to 5,340 points, and the technology Nasdaq fell 0.12% to 17,172 units.

What is affecting the markets today?

Investors have their eyes set on the meeting of Fed monetary policywhere the central bank will once once more discuss interest rates. The meeting will end on Wednesday.

Analysts generally expect the Fed to keep interest rates on hold in a range of 5.25% to 5.50%, pending greater confidence that inflation is falling and moving closer to the 2% target.

“Smoother economic growth and a more balanced labor market should reduce unemployment inflationary pressures. The problem is that inflation will take time to return to its target, which requires a gradual approach to monetary policy easing,” he notes. Raphael Olszyna-Marzyseconomist of the J. Safra Sarasin benchit’s a statement.

Olszyna stresses that the market has returned to balance following the decrease in job offers and low unemployment and dismissal ratesa scenario that is close to the “tight, but not too tight” labor market that the Fed wants to return to.

Tomorrow, traders are also expecting the publication of the Consumer price index May (CPI), one of the key inflation data for the central bank.

According to the analyst Tom tries“The Fed cannot cut rates ‘seriously’ until core CPI is much closer to its 2% target.”

On the other hand, the reference of the 10-year Treasury bond It was also influenced by the expected Fed meeting and fell back to 4.453%.

By sectors

Losses predominated, led by goods and services (-1.33%) and financial (-1.11%), while only technology (0.13%) and communications (0.03%) opened in the green.

Among the 30 Dow Jones stocks, Apple (2.07%) and UnitedHealth (0.41%) led the gains, while among those that opened in the red were JPMorgan (-2.42%) and American Express (-2.03%).

In other markets, the Texas oil (WTI) opened this Tuesday with a drop of 0.14%, to 77.63 dollars a barrel, following the Organization of Petroleum Exporting Countries (OPEC) maintained its demand forecasts and anticipated stable economic growth this year.

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