The Dow Jones is down, while the Nasdaq and S&P 500 are up in line with world stocks. The market awaits the definitions of the Federal Reserve next week.
The New York Stock Exchange, Wall Street, operates this Friday with a mixed trend, although mostly bullish, trying to maintain the momentum of the previous day, when the market crossed an important upward threshold, before a week rich in events and indicators. This occurs in a context in which the world stocks are on track to post a small weekly rise this Friday, buoyed by growing bets that the Federal Reserve from United States will not increase interest rates next week, overshadowing concerns about a possible lack of liquidity in US markets.
Thus, the Dow Jones falls 0.07%the index Nasdaq gains 0.56% and the expanded index S&P 500 rises 0.23% in the day
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Meanwhile, the MSCI World Stocks Index rose 0.1%, indicating a weekly gain of 0.6%. However, the pan-European STOXX 600 presents a fall of 0.3%, due to the influence negative chemical actions after Croda International, a British company, published a weak earnings outlook.
Meanwhile, Wall Street futures were down 0.1% after the S&P 500 entered a technical bull market the previous day.
What the market expects
Market operators consider that there is 73% chance that the Fed keeps rates stable in the range of 5% to 5.25% June 14. This would mark the end of its most aggressive cycle of increases since the 1980s. Bets in favor of a pause were supported by data showing an increase in the number of applications for unemployment benefits in the United States, indicating an easing in the labor market and could further curb inflation.
Furthermore, investors expected the Fed to temporarily halt its campaign of rate increases due to concerns on the liquidity of the market, generated by the negotiations on the US debt ceiling. “We are all worried about liquidity,” said Invesco’s Ben Jones.
For US Treasuries, two-year yields, which are highly sensitive to monetary policy expectations, rose 4 basis points to 4.56%, while the yields of the 10-year notes improved by 4 basis points, standing at 3.753%.
Source: Ambito
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