The market is leaving behind stocks’ difficult start to the second quarter after Powell ratified the path of interest rate cuts, in a flexible but cautious tone.
Technology stocks boost this Thursday Wall Streetwhich dissipates the nerves after the words of Jerome Powell chairman of the Federal Reserve on Wednesday, and after a few employment data that, although worse than expected,the market reading in this regard was positive.
He S&P 500 rises 0.6% while the Dow Jones of industrial companies it does so by 0.4%. Meanwhile, the Nasdaqof technological components, leads the rise with 0.9%, after both indicators registered small gains in the previous session.
The S&P 500 Technology Sector ETF (XLK) rises about 1%. Stocks related to real estate (XRE) and consumer discretionary goods (XLY) also do the same.
As Ámbito reported, on Wednesday Powell said that central bank officials hope to reduce interest rates “at some point” this year, while investors continue to look for clues as to when that cut will occur, thus recalibrating their approach toward the next US employment report.
Wall Street: what the market expects
The market is leaving behind stocks’ difficult start to the second quarter after Powell ratified the path of interest rate cuts, in a flexible but cautious tone.
markets-wall-street-shares-stock-markets-investments-finance
Reuters
Recent signs of acceleration in the economy raised the odds of further rate hikes: the so-called “not landing”.
Now the focus is shifting to the March jobs report, due Friday morning, a key economic data point for the Fed’s data-dependent policy decision-making.
Overall, experts don’t expect to see signs of weakening in the strong U.S. labor market story. Labor Department data released Thursday showed that jobless claims rose by 9,000 to 221,000 last week, their highest level since January.
Source: Ambito
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