(Telestock) – Wall Street starts trading on the risesupported by the good data on retail salesfrom bets for a Fed rate cut in September and come on accounts above expectations of the big US banks, such as Goldman-Sachs And Morgan Stanley.
The Fed Chairman Jerome Powellyesterday yesterday they have strengthened expectations of a first intervention in SeptemberIn his remarks, which may be his last before the FOMC meeting on July 30-31, Powell suggested that recent inflation data are on track to bring the rate back around the Fed’s 2% target.
The market is also supported by the retail sales which, although stagnant, have appeared better than expected of the market. Core sales, on the other hand, recorded an increase of 0.4%, above the 0.1% expected.
In the meantime, the major American investment banks have revived market sentiment with decidedly positive quarterly numberswhile the market was already racing towards a Republican victory more likely led by Trump in the next Presidential elections.
The US stock market shows a timid gain, with the Dow Jones which is recording a +0.58%, continuing the bullish trend highlighted by five consecutive gains, triggered last Wednesday; along the same lines, a small leap forward for theS&P-500which reaches 5,653 points. Slightly positive the Nasdaq 100 (+0.39%); with a similar direction, in fractional progress theS&P 100 (+0.36%).