(Finance) – Wall Street is moving slightly higherafter yesterday’s losses, triggered by expectations that the Federal Reserve’s first interest rate cut will be postponed compared to previous expectations. Today too Goldman Sachs moved the forecast for the Fed’s first rate cut of a meeting, from July to September; The shift in timing does not change the expectation of two cuts total in 2024.
Yesterday’s stronger-than-expected data on US business activity also weighed on market sentiment. The data released today before the bell seems to confirm this vision: the orders for durable goods for the month of April they increased by 0.7%, compared to expectations of a decline of 0.8%.
THE Minutes of the latest Fed meeting confirmed the cautious attitude of the American central bank in a context in which inflation is struggling to fall and economic growth remains solid. Today the governor of the Federal Reserve Christopher Waller said the factors that lowered the neutral rate could reverse.
Looking at the main indicesthe US stock market shows a timid gain, with the Dow Jones which is achieving +0.25%; along the same lines, slight increase for theS&P-500, which rises to 5,286 points. Moderately rising Nasdaq 100 (+0.29%); with the same direction, slightly positiveS&P 100 (+0.22%).