(Tiper Stock Exchange) – Wall Street is negativewith the investor sentiment which remained weak because of hawkish outlook on rates of interest expressed by Federal Reserve Chairman Jerome Powell in his testimony to Congress. Yesterday, Powell in his hearing before the Senate Banking Committee reiterated that the decision to keep interest rates unchanged in June is not a break, but a slowdown in the pace of rate hikes which “allows more time for decisions to be made” yet take. According to Powell, rates are close to peak, but it is necessary to continue “a little longer” before stopping.
On the macroeconomic frontThe PMI indices indicated that US companies signaled further expansion in business activity at the end of the second quarter, although the growth rate slowed to a three-month low. Manufacturing companies reported a renewed contraction in output, while service providers saw a slower but still robust recovery in output.
Between headlines affected by newsfly Carmaxwhich recorded a quarter beyond expectations thanks to cost cutting, and is sinking Virgin Galacticwhich announced it may offer common stock up to $400 million “from time to time” in an “at the market” offering.
Weak Starbucksafter the US company’s union said more than 150 stores and 3,500 workers would go on strike next week after the company banned Pride month decorations at its outlets.
Looking to main indicesThe Dow Jones is leaving 0.44% on the floor: theamerican index thus continuing a negative series, which began last Friday, of five consecutive reductions; along the same lines, it yields to sales theS&P-500, which recedes to 4,362 points. Slightly down the NASDAQ 100 (-0.61%); with similar direction, fractionally decreasing theS&P 100 (-0.43%).
In the S&P 500, no fund is saved. At the bottom of the ranking, the biggest declines occur in the compartments utilities (-1.02%), power (-0.99%) and materials (-0.85%).
In this bad day for the New York Stock Exchange, no Blue Chip has a significant positive performance, aside Visa And Merck & Co.
The strongest declines occur on Salesforce, which continues the session with -1.79%. Disappointing cisco systems, which lies just below the levels of the eve. Slack Goldman Sachs, which shows a small decrease of 1.25%. Modest descent for Caterpillarwhich drops a small -1.18%.
To the top between Wall Street tech giantsthey position themselves CoStar (+1.31%), Constellation Energy (+1.21%), Intuition (+1.19%) and Ross Stores (+1.05%).
The strongest declines, however, occur on PDD Holdings, which continues the session with -5.23%. Goes down JD.com, with a drop of 5.22%. It collapses polishwith a drop of 3.93%. Marvell Technology drops by 3.23%.