Wall Street in red on the eve of the Fed

Wall Street in red on the eve of the Fed

(Finance) – The American price list continues to record the minus sign while the countdown for the Federal Reserve rate decision tomorrow at the end of the two-day monetary policy meeting.

The now discounted analysts’ expectations are for an energetic adjustment to the cost of money by at least 75 percentage points, while some experts seem to be preparing for a 100 percentage point increase, a move that was unthinkable just a few days ago. Among other things, the economists of Goldman Sachs have also revised up the forecasts on what the Fed will announce: now they estimate a monetary tightening of 75 basis points, compared to the increase of 50 basis points previously expected.

Among the US indices, in a session characterized by large sales, the Dow Jones accuses a decline of 1.26%; on the same line, theS & P-500, which slips to 3,851 points. Downhill the Nasdaq 100 (-0.78%); as well, negative theS&P 100 (-1.02%).

Negative result on Wall Street for all sectors of the S&P 500. Among the most negative of the S&P 500 list, we find the sectors materials (-2.07%), utilities (-1.97%) e financial (-1.71%).

Between protagonists of the Dow Jones, Apple (+ 1.19%) e Boeing (+ 0.81%).

The worst performances, on the other hand, are recorded on Nikewhich gets -4.32%.

Thud of Travelers Companywhich shows a 3.03% drop.

Letter on Caterpillarwhich recorded a significant decrease of 2.47%.

Goes down Home Depotwith a fall of 2.21%.

To the top between tech giants of Wall Streetposition themselves Modern (+ 2.70%), Netflix (+ 1.69%), NetEase (+ 1.56%) e Apple (+ 1.19%).

The strongest falls, on the other hand, occur on Align Technologywhich continues the session with -3.80%.

Collapses Paypalwith a decrease of 3.44%.

Sales hands on Ross Storeswhich suffers a decrease of 3.30%.

Bad performance for Ebaywhich recorded a decline of 3.18%.

Among macroeconomic appointments which will have the greatest influence on the performance of the US markets:

Tuesday 20/09/2022
14:30 USA: Opening of construction sites (expected 1.45 million units; previous 1.4 million units)
14:30 USA: Building permits (1.61 million units expected; previous 1.69 million units)

Wednesday 21/09/2022
4:00 pm USA: Sale of existing homes, monthly (previous -5.9%)
4:00 pm USA: Sale of existing homes (4.7 million units expected; previous 4.81 million units)
16:30 USA: Oil stocks, weekly (833K barrels expected; previous 2.44 million barrels).