(Finance) – Positive session in New Yorkin a wait-and-see climate, as investors wait further macroeconomic data to evaluate the path of rates of interest to the Federal Reserve. The spotlight is on February’s crucial reading of the Personal Consumption Expenditures Price Index (PCE), the Fed’s preferred inflation indicator, which will be released on Friday, when the U.S. stock market is closed for the holiday.
According to the CME’s FedWatch Tool, traders see a 70% chance for a cut by at least 25 basis points in Junedown from 75% a week ago.
As for the interventions of US central bank officials, the governor of the Fed speaks today Christopher Wallerwhile speeches by the president of the San Francisco Fed are scheduled for Friday Mary Daly and the president of the Fed Jerome Powell.
On the macroeconomic front, the mortgage applications in the United States over the past week, with 30-year mortgage rates falling to 6.93% from 6.97% the previous week.
Between corporate stories of the day, Kimberly Clark announced a new operating model, but it will incur $1.5 billion in one-time restructuring and reorganization costs. Modern received $750 million in funding from Blackstone to advance the company’s flu program. Merck & Co received Food and Drug Administration approval for the drug Winrevair. GameStop reported weaker-than-expected results in the fourth quarter and said it had cut an unspecified number of jobs.
Looking at the main indices of the US stock marketThe Dow Jones it is up by 0.72%, interrupting the series of three consecutive declines that began last Friday; along the same lines, slight increase for theS&P-500, which rises to 5,233 points. Fractional earnings for the Nasdaq 100 (+0.46%); on the same trend, with a moderate increase inS&P 100 (+0.46%).