Technology stocks are boosting investor expectations in New York, who are awaiting news on the rate path of Fed Chairman Jerome Powell.
Wall Street trades higher this Thursday, driven by the technology sector, which generates very good expectations backed by the excellent results achieved by the company Nvidia. And it is that the manufacturers of chips encourage the industry after the Nvidia revenue forecasts for the third quarter exceed expectations by billions of dollars.
The Actions They rise on Thursday, after the excellent results of the technology company nvidiawhile the fall in public debt yield relieves pressure on the borrowing costsfurther boosting confidence.
In fact, the index Dow Jones remains stable (+0.01%), the nasdaqdominated by technology, advanced 0.71%, and the expanded index S&P 500 it grew 0.36% during early trading of the day.
Investors waiting for the Fed
Investors are now waiting for clues about the future path of rates in the United States by the Chairman of the Federal Reserve, Jerome Powellwho will address an annual summit of central banks on Friday in Jackson Hole, Wyoming. But a round of weak manufacturing surveys on Wednesday also revived hopes that central banks are nearing the end of their rate-hike cycles.
“You have to see what he says now Jerome Powell in light of weaker underlying economic data: what will your message be? Have we peaked? Are we going to hold on? I think that’s the absolutely crucial thing,” said Robert Alster, chief investment officer at Close Brothers Asset Management.
Treasury yields rise
Wall Street S&P 500 futures were trading higher, with the S&P 500 futures up 0.6% and the MSCI World Stocks Index up 0.2%. The yield on public debt decreases, contributing to the feeling of relief in the markets. The return of the Treasury bond at 10 years it was operating at 4.21% after touching maximums of almost 16 years in the week.
He MSCI’s broader index Asia-Pacific excluding Japan stocks gained 1.5%. Even so, it has lost about 8% for the month on the weakness of the Chinese economy and the yuan, as well as dismal numbers from Japanese factories, which have also dampened sentiment.
However, the chinese stocks they also rebounded and the CSI300 index rose 0.7%. In currency markets, the dollar index added 0.2% and the euro lost 0.1% against its US counterpart.
Source: Ambito
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