Wall Street registers strong sales this Thursday after the shopping Wednesday, which has the Nasdaq the biggest loser, despite Meta's boostwhich has risen after publishing its results yesterday. Investors are now awaiting the results Apple, Amazon and Intel after the close. The meeting of the US central bank did not bring any surprises and the Market remains optimistic on a first rate cut after the summer. «The subsequent FOMC statement had a more optimistic tone than that offered in previous meetings, something that was later endorsed in his subsequent press conference by the Fed president, Jerome Powellsince it did offer indications that if the macroeconomic data that is published on inflation continues to offer confidence to the members of the FOMC, A rate cut is on the table as early as the next Fed meeting in September«, say Link Securities. However, experts point out that, although the Fed's main objective has been to return inflation to its 2% target, Their attention is shifting to the labor marketwhich has softened in recent months. «Chairman Powell specifically pointed to the promising progress in services inflation, which reinforces the Fed's confidence in an eventual rate cut. With inflation trending in the right direction and a softening labor market, A rate cut in September should be the baseline expectation from here on outprovided we don't have a hot inflation report next month,» says Bret Kenwell, US investment analyst at eToro. Therefore, the key data of the week will be released this Friday with the official employment report. The consensus expects a relaxation of the labor market to 175,000 new jobs in July compared to 206,000 in the previous month. However, before that, on the macro level, Thursday's agenda included the weekly unemployment data, that have grown more than expected, as well as the PMI and ISM manufacturing July, which showed a new contraction in the sector.
AI powers META
Goal rises more than 8% on Wall Street after presenting some results that have convinced analysts thanks to the artificial intelligence (AI). The parent company of Facebook, WhatsApp and Instagram has obtained a net profit of 13.465 billion dollars, which represents a 73% increase compared to the 7.788 billion obtained in the second quarter of last year. The company has also exceeded market expectations with its revenue figurewhich has grown by 22% in the year-on-year comparison. However, optimism has come from the hand of the digital advertisingwhere advertising revenue, which largely comes from Facebook and Instagram apps, has raised by 22% compared to the previous year. «Investors are willing to overlook the increase in capital spending, as long as revenue growth remains strong. Therefore, Meta has been buying into the AI theme for some time«, assesses Kathleen Brooks, research director at XTB In the results chapter, this Thursday, after the market close, there will be Apple, Amazon and Intel are responsible for presenting their figures.
OTHER MARKETS
In other markets, the Petroleum West Texas falls by 0.42% ($77.62) and the Brent fell by 0.20% ($80.86). For its part, the euro depreciates by 0.37% ($1.0784), and the ounce of gold earns 0.82% ($2,493). In addition, the 10-year US bond yield relaxes to 3.965% and the bitcoin loses 1.69% ($64,490).