Wall Street is currently expected to rise slightly before market trading this Friday…
(Boursier.com) — Wall Street is currently expected to rise slightly before market trading this Friday, trying to recover following two sessions of a fairly brutal purge in reaction to the Fed’s very firm speech concerning the sustainable level of rates students. The S&P 500 rose painfully by 0.2% before market, the Dow Jones by 0.1% and the Nasdaq by 0.4%. On the Nymex, a barrel of WTI crude rose 1% to $90.6. An ounce of gold gains 0.3% to $1,944. The dollar index is up 0.2% against a basket of reference currencies. On the bond markets, the yield on two-year Treasury bonds consolidates slightly at 5.14%, compared to 4.49% for the 10-year and 4.57% for the 30-year.
On the economic front on Wall Street this Friday, the preliminary American composite Markit PMI index for the month of September will be communicated at 3:45 p.m. (FactSet consensus 47.9 for the manufacturing index and 50.2 for services, or 50 for the composite index which would reflect activity at a standstill). Lisa Cook, governor of the Fed, also intervenes before the opening of Wall Street, while Mary Daly, boss of the San Francisco Fed, will be followed later in the day. Cook’s intervention in Canada is linked to an NBER (National Bureau of Economic Research) conference concerning artificial intelligence. Daly, for her part, generally tends to give a speech very similar to that of Powell.
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