Wall Street remains uncertain before the market this Wednesday, with the S&P 500, the Dow Jones and the Nasdaq gaining just 0.1%, while waiting for the figures…
(Boursier.com) — Wall Street remains uncertain before the market this Wednesday, with the S&P 500, the Dow Jones and the Nasdaq gaining just 0.1%, while awaiting monthly inflation figures and the Fed’s verdict. The Big Three of “tech”, Microsoft, Apple And Nvidia, also remain under surveillance, while the title of the Apple group has just skyrocketed following the AI announcements on Monday at the WWDC conference in Cupertino. Finally, operators will follow tomorrow the vote of the shareholders of You’re here on Elon Musk’s very juicy $56 billion compensation package…
On the Nymex, a barrel of WTI crude rose 1.3% to $78.9. An ounce of fine gold rose 0.2% to $2,331. The dollar index stabilizes against a basket of currencies.
On the economic front, operators will therefore follow the American consumer price index for the month of May at 2:30 p.m. (consensus +0.1% compared to the previous month or +3.4% over one year; +0.3 % and +3.5% excluding food and energy), then at 4:30 p.m. the weekly report on American domestic oil stocks and at 8 p.m. the American budgetary balance, as well as of course the Fed monetary press release followed by the press conference by Jerome Powell.
The CME Group’s FedWatch tool gives a more than 99% probability of a new monetary status quo, leaving rates unchanged between 5.25 and 5.5%, at a 23-year high. The probability of status quo on July 31, after the next meeting, reaches more than 91%. That of a first monetary easing no later than September 18 is around 53%. The very solid US employment report released on Friday further pushed back expectations of monetary easing.
The markets will be monitoring this evening the Fed’s famous “dot plot”, which presents central bankers’ rate expectations in the form of a dot graph.
Tomorrow, investors will be attentive to weekly unemployment claims, as well as the producer price index for the month of May. John Williams, head of the New York Fed, will also speak during the day. Finally, on Friday, the markets will follow import and export prices, the American consumer sentiment index from the University of Michigan, as well as a speech from Austan Goolsbee, who heads the Chicago Fed .
In business news, Oracle stands out with a strong increase, while the group displays very exciting prospects with the rise of AI. Apple for its part reached a historic peak last night, also boosted by the integration of AI tools into its devices. GameStop is losing ground for the hour before market, while the group has completed a new fundraising of more than 2.1 billion dollars.
Casey’s General Stores (+6% before market) announced its accounts yesterday evening after market on Wall Street. Broadcom publishes for its part this evening, whileAdobe unveils its latest figures tomorrow, after the close of the American market.