The New York market, in general, fell on the month due to concerns that the gains registered until July have been exaggerated and that monetary policy remains aggressive for longer.
Wall Street operate cautiously this Wednesday, August 16, and the actions are listed mixed In that sense, the S&P 500 It rises 0.1% and recovers a bit from the previous day’s loss of 1.2%. He Dow Jones Industrial Average rises 0.3% to 35,030.32 points, while the composite nasdaq falls off 0.2%.
In general, Wall Street does not have a good August, having regressed due to various concerns, including fears that the big profits recorded Until July have been exaggerated since the tinterest handles stay high for longer.
The Federal Reserve could offer more clues about the direction of the interest rates this afternoon when I release the minutes of your last meeting. Hopes that hawkish policy came to an end last month and that the central bank will start cutting rates early next year remain relatively high. High rates, while cooling inflation, can sharply slow down the entire economy and hurt investment prices, increasing the risk of recession.
Wall Street: Waiting for the Fed
But the Fed has been adamant in his desire to completely extinguish the worst inflation in decades, and a surprisingly strong US retail sales report on Tuesday suggested there is still upward pressure. So while the strong economic reports ease long-standing concerns about a possible recession, they could also end up keeping rates higher for longer.
On Wednesday morning it was learned that US industrial production got better last month more than economists expected. Builders also began building more homes.
The yields of the Treasury bond have generally gone up as reports drew a picture of a still strong economy. This puts pressure on stocks, because when safe bonds pay more interest, investors feel less need to take risks with stocks and other investments.
Source: Ambito
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