(Finance) – Little movement on Wall Street, which continues the session at the levels of the day before, with the Dow Jones which stops at 39,205 points; on the same line, a day without infamy and without praise for theS&P-500, which remains at 5,480 points. On the levels of the day before the Nasdaq 100 (+0.16%); on the same trend, it consolidates the levels of the previous dayS&P 100 (+0.05%).
On the macroeconomic front, the GDP US first-quarter rate was revised up to 1.4% in the final reading, while jobless claims fell against estimates for an increase. Now attention shifts to inflation data, arriving on Friday, useful for trying to understand the Federal Reserve’s next moves.
The third reading of U.S. first-quarter GDP came in at 1.4% annualized in revised figures, up from the 1.3% forecast but below the 3.4% estimate for the fourth quarter of 2023. “The tepidity of this growth continues to raise fears of a broader economic slowdown”, comments Richard Flax, Chief Investment Officer of Moneyfarm. “The increase in real GDP mainly reflected the increase in consumer spending, residential and non-residential fixed investment and spending by state and local governments”. Looking ahead, the expert explains, “forecasts indicate a potential increase in GDP in the second quarter, with estimates suggesting growth rates of 3% or more, in line with the solid performance recorded in the second half of 2023. However, several factors could reduce expectations for the rest of the year, including the state of inflation, high interest rates and the upcoming presidential elections, all of which could force businesses to adopt a cautious towards new investments”.
The sectors in the spotlight on the North American S&P 500 index secondary consumer goods (+0.79%) and telecommunications (+0.57%). At the bottom of the ranking, significant declines are evident in the sector office consumableswhich reports a decline of -0.53%.
At the top of the rankings American giants components of the Dow Jones, Salesforce (+6.04%), 3M (+2.27%), Amazon (+2.25%) and Boeing (+1.93%). The strongest drops, however, are seen on Goldman-Sachswhich continues the session with -2.22%.
Prey of the sellers Merckwith a decrease of 2.21%.
Moderate contraction for Visawhich suffers a decline of 1.35%.
Undertone Procter & Gamble which shows a reduction of 0.84%.
On the podium of Nasdaq stocks, Palo Alto Networks (+6.13%), Zscaler (+5.96%), Datadog (+4.32%) and Adobe Systems (+3.23%).
The worst performances, however, are recorded on Walgreens Boots Alliancewhich gets -25.13%.
Poor performance for Micron Technologywhich recorded a decline of 6.56%.
Sales are concentrated on PDD Holdingswhich suffers a decline of 3.75%.
Sales on Constellation Energywhich recorded a decrease of 3.65%.
Between macroeconomic quantities most important US markets:
Thursday 06/27/2024
2.30pm USA: Wholesale inventories, monthly (expected 0.1%; previously 0.1%)
2.30pm USA: GDP, quarterly (expected 1.3%; previously 3.4%)
2.30pm USA: Unemployment Claims, weekly (expected 236K units; previously 239K units)
2.30pm USA: Durable goods orders, monthly (expected -0.5%; previously 0.2%)
4:00 pm USA: Home sales in progress, monthly (expected 0.6%; previous -7.7%).