(Telestock) – US stocks rose, albeit erasing some of the initial surge, and bond yields fell.after Fed Chair Jerome Powell stepped up bets on a rate cut by the central bank in September, leaving the door open for further cuts.
In his speech in Jackson Hole, he stated that The time has come for the US central bank to cut its benchmark rateconfirming expectations that interest rates will be lowered at the September meeting and clarifying his intention to prevent a further cooling of the labor market. Powell said he was “increasingly confident that inflation is on a sustainable path to return to 2 percent” and stressed that “the cooling of labor market conditions is unequivocal.” He also stressed that “the current level of our policy rate gives us ample room to respond to any risks we may face, including the risk of further unwelcome weakening in labor market conditions.”
On the macroeconomic front, the growth has started again, and much more than expected, new home sales in the United States in July 2024.
Looking at the main indexesthe US stock market shows a gain of 0.74% on Dow Jones; along the same lines, theS&P-500 proceeds in small steps, advancing to 5,608 points. Fractional gains for the Nasdaq 100 (+0.64%); with the same direction, moderately rising theS&P 100 (+0.63%).
In the S&P 500, the performance of compartments energy (+1.59%), secondary consumer goods (+1.18%) and materials (+1.08%).
Among the best Blue Chips of the Dow Jones, Down (+2.22%), Home Depot (+1.88%), Goldman-Sachs (+1.82%) and Intel (+1.72%).
The strongest sales, however, are seen on Procter & Gamblewhich continues trading at -0.90%. Small loss for Visawhich trades at -0.73%. Hesitant Wal-Martwhich gives up 0.54%.
To the top among the Wall Street tech giantsthey position themselves Workday (+11.07%), Warner Bros.Discovery (+5.53%), Global Foundries (+3.41%) and Tesla Motors (+3.25%).
The worst performances, however, are recorded on Intuitwhich gets -7.20%. Heavy PDD Holdingswhich marks a drop of -5.55 percentage points. It slips MicronTechnologywith a clear disadvantage of 3.10%. In the red Intuitive Surgicalwhich shows a sharp decline of 2.08%.