(Tiper Stock Exchange) – Positive session for Wall Street, after a start in negative territory, with investors evaluating a possible pause in interest rate hikes by the Federal Reserve in March. The bets on a less aggressive approach by the Fed it therefore overwhelms fears of a contagion effect following the collapse of the Silicon Valley Bank (SVB) and other US non-systemic institutions (such as Signature Bank).
They still remain strong concerns about other regional or medium-sized lendersas evidenced by today’s strong sales on First Republic Bank, Western Alliance Bancorp And PacWest Bancorpwith stock trading having been halted several times due to volatility.
Speaking shortly before the market opened, the President Joe Biden he said that the management of failed banks will be fired, that investors will not be protected (although all depositors will be protected) and that American taxpayers will face no lossesas the money used for the announced interventions will instead come from the proceeds of bank commissions to the Deposit Insurance Fund.
Wall Street continues the session with a I earn on the Dow Jones by 0.32%, interrupting the series of four consecutive declines, which began last Tuesday; on the same line, small leap forward for theS&P-500, which comes in at 3,883 points. Excellent performance of NASDAQ 100 (+1.63%); on the same trend, theS&P 100 (+0.88%).
Positive result in the S&P 500 basket for i sectors utilities (+1.92%), informatics (+1.41%) and sanitary (+1.31%). In the price list, the sectors financial (-2.68%), power (-1.63%) and materials (-0.49%) are among the best sellers.
At the top of the rankings American giants components of the Dow Jones, Microsoft (+3.19%), Amgen (+2.81%), Apple (+2.39%) and Salesforce, (+1.98%).
The strongest sales, on the other hand, show up American Expresswhich continues trading at -3.19%. Goldman Sachs drops by 3.04%. Decided decline for Dow,, which marks a -1.73%. Under pressure Merckwith a sharp drop of 1.55%.
Between best performers of the Nasdaq 100, Illuminate (+17.38%), Seagen (+15.29%), Modern (+7.40%) and Pdd Holdings Inc. Sponsored Adr (+6.92%).
The strongest declines, however, occur on Fiserv, which continues the session with -5.37%. He suffers Cognizant Technology Solutions, which shows a loss of 2.91%. Prey of sellers Diamondback Energy, with a decrease of 2.66%. They focus their sales on Rivian Automotivewhich suffers a drop of 2.61%.
Between macroeconomic quantities most important of the US markets:
Tuesday 03/14/2023
1.30pm USA: Consumption prices, yearly (expected 6%; previous 6.4%)
1.30pm USA: Consumption prices, monthly (expected 0.4%; previous 0.5%)
Wednesday 03/15/2023
1.30pm USA: Empire State Index (expected -7.85 points; previous -5.8 points)
1.30pm USA: Production prices, monthly (0.3% expected; previous 0.7%)
1.30pm USA: Production prices, annual (expected 5.4%; previous 6%).