The main indices of Wall Street go up this Monday, June 12, while the investors look forward to inflation data and the decision of the Federal Reserve about the interest rates this week.
In that sense, oracle corp reached an all-time high prior to the publication of their results quarterly this Monday afternoon, adding momentum to the financial landscape.
The market waits with great expectation the data of the Consumer Price Index that will be published by the United States Department of Labor tomorrow, Tuesday, which coincides with the start of the Fed meeting. In this context, it is expected a slight slowdown in price rises in the month of May, although it is likely that core inflation remains high.
operators give a 74% probability that the body led by Jerome Powell keep interest rates between 5% and 5.25%data that will be known on Wednesday, while the tool CME’s Fedwatch rates the possibility at 51% of an increase of 25 basis points in July.
Melissa Brownglobal head of applied research at Qontigo, argues that the Federal ReserveHe is in a delicate balance between excessive tightening of monetary policy, which could lead to to an economic downturn, and a lack of action that would keep inflation at high levels.
Wall Street indices rising
Although the indices that operate in the New York market experienced a significant rebound in recent weekswith the S&P 500 showing gains for the fourth consecutive week and an increase of 20% from its lows of October 2022, which for some agents in the market configures the beginning of a new bull market.
This rebound can be understood by the good performance of large companies, better-than-expected quarterly earnings and hope that the Fed is close to finishing its tightening cycle of monetary policy.
In addition, there is also growth in the most sensitive sectors from an economic point of view, such as energy and industrialas well as small-caps, indicating that the US economy remains strong despite rising interest rates.
Regarding the indices at the current time, the S&P 500 has gained 6.20 points, equivalent to 0.14%, standing at 4,305.06 units. For its part, the Nasdaq experiences an increase of 63.12 points, or 0.48%, standing at 13,322.26 units. Likewise, andThe Dow Jones Industrial Average adds 18.45 pointsor 0.05%, reaching 33,895.23 units.
It should be noted that the action of Nasdaq Inc reports a 9.8% drop after announcing the acquisition of Adenza, a software company owned by Thoma Bravo, for an amount of 10.5 billion dollars.
Source: Ambito
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