Wall Street resumes bullish rally at the beginning of a week marked by holidays in the US

Wall Street resumes bullish rally at the beginning of a week marked by holidays in the US

The main indices are trading upwards this Monday, November 20, led by the advance of the Nasdaq. This occurs on a day in which an important Microsoft incorporation and while investors wait for clues on the policy of rates of the Federal Reserve. Furthermore, this week will be marked by the holiday of Thanksgiving in USA which will be held next Thursday.

The index S&P 500 win 12.12 pointsor 0.3%, to 4,526.14 units and is located just a 2% from its highest level of the yearwhich reached in July.

For his part, the Nasdaq goes up 72.40 pointsor 0.5%, to 14,197.88 units. Meanwhile, the Dow Jones Industrial Average added 70 pointsor 0.20%, to 35,017.28 units.

Wall Street operates higher: in what context?

This Monday, the Nasdaq leads gains between the major US stock indicesgiven that Microsoft rises after learning that the former head of OpenAI, Sam Altman will join the software giantas investors waited for more clues about when the Federal Reserve I could start cutting back interest rates.

The Microsoft stock advance 1.4%still all-time highafter the CEO, Satya Nadellasaid Altman will join the company to direct a new research team of advanced artificial intelligence.

He information technology subindex is located between the main sector winnerswith an advance of 0.7%. Amazon.com rises 0.7%, while Alphabet falls 0.4%.

The three main stock indices Americans rose sharply in Novemberand on Friday they closed with profits a third consecutive weeksince the evidence for the moderation of inflation Americans backed bets that the Fed was no longer going to raise interest rates.

“(The rebound) has been exaggeratedbecause the idea that the Federal Reserve I was going to cut the interest rates has skyrocketed,” he said. Ken Polcarimanaging partner of Kace Capital Advisors. “We will see some consolidation in the market during the next two weeks before there is the typical year-end seasonal rebound“.

Depending on the tool FedWatch of CME Groupthe Traders almost completely discounted the probability that the Fed will maintain rates unchanged interest rate in December, and they began to discount rate cuts already in March.

Several catalysts will set the tone for the variable income this week, in which shortage of volumes negotiation prior to the holiday Thanksgiving It will also affect market movements.

The chip designer Nvidia will present his quarterly results on Tuesday, which will conclude the season of third quarter results for the group of “Magnificent Seven”of large cap companies.

It is expected that the Federal Reserve publish on Tuesday minutes from their November meetingwhich will be analyzed for Clues to the direction of US interest rates. Black Friday sales will provide an indicator of the state of American consumer spending.

Source: Ambito

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