2023-07-11 14:10:11
New York (AFP) – The New York Stock Exchange moved in scattered order on Tuesday following the opening, awaiting data later in the week on the evolution of inflation in the United States which will influence monetary policy of the central bank.
Published on: 07/11/2023 – 16:10
The Dow Jones index gained 0.34% and the S&P 500 rose 0.13% around 2:00 p.m. GMT while the Nasdaq, which had started in the green, fell 0.14%.
The day before, the Dow Jones had risen by 0.62% to 34,262 points, the Nasdaq index, which is dominated by technology, had taken 0.18% to 15,226.25 points and the broader S&P 500 index had risen by 0.24 % at 4,455.75 points.
On Wednesday, the US government will publish the CPI consumer price index for June which is expected at +0.3% over the month and 3.1% once morest 4% over twelve months, a significant slowdown.
On Thursday, investors will also be watching producer prices. There will also be the publication of the Beige Book, the last economic report concocted by the regional branches of the Fed before the next monetary meeting on July 25 and 26.
The markets are now convinced that the Fed will indeed raise its key rate by a quarter of a point on July 26, despite its pause during the previous meeting, noted Art Hogan of B. Riley Wealth Management.
They are more undecided regarding what the Federal Reserve will do next. “There is a 92.4% chance of a rate hike in July and 22% for another in September,” according to calculations on futures products, the analyst noted.
No less than three Fed officials spoke Monday to stress that the central bank had “still work to do” to curb inflation, in the words of Michael Barr, vice chairman of the Fed.
In the second half of the week, the earnings season begins with the banks JPMorgan, Citigroup, Wells Fargo, the investment fund BlackRock, but also Pepsico and the airline company Delta.
On the odds, the Amazon title climbed 1.10% around 1:40 p.m. GMT as Amazon Prime begins its two days of annual sales.
Meta lost 0.72%. The parent company of Facebook and Instagram has just launched the Threads messaging thread to compete with Twitter, taken over last October by Elon Musk, boss of Tesla.
The airline JetBlue Airways lost 1.13% to 9.16 dollars following a deterioration of analysts while the title climbed sharply recently following having abandoned its alliance with American Airlines to focus on its possible acquisition of Spirit.
The real estate site Zillow jumped 6.48% to 51 dollars following a favorable opinion from an analyst.
The diversified 3M group gained 3.15%, also favorably rated by analysts.
On the bond market, yields on Treasury bills were stable at 3.98% for those at ten years once morest 3.99% the day before.
© 2023 AFP
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