Wall Street has closed with a mixed sign (Dow Jones: -0.02%; S&P500:+0.03%; Nasdaq: -0.01%) This Thursday after the Wednesday the S&P and the Nasdaq renew their historical maximums For the second consecutive day. This cycle of increases is motivated by The highest expectations of interest rates. According to analysts, the good inflation fact and the weak employment data of July in the United States leave without much margin of action to the Federal Reserve (Fed), which is practically obliged to lower official rates in September. According to Fedwatch tool data, the cut in the ninth month of the year is practically discounted. In addition, experts like INGs forecast Between two and three declines of official rates In the remainder of the year, since they think, among other things, that companies cannot have entirely the effects of tariffs on customers. On Wednesday, the Secretary of the Treasury, Scott Besentopenly suggested that the Fed must lower interest rates at 50 basic points in September. In fact, Besent believes that rates are «too restrictive» at their current levels (4.25%-4.5%) and that «They should probably be between 150 and 175 lower basic points». In this regard, today the Producer Price Index (IPP) of the month of July, that has risen more than expected, and weekly unemployment datawhich have been located below the forecasts. These reports arrive before the meeting of Jackson Hole of the FED, from August 21 to 23, which could also help define expectations on the next monetary policy movement of the Central Bank. «All eyes now go to the complicated speech that President Powell will give in Jackson Hole next week. Or Powell tries Brown, senior research strategist of Pepperstone. Different reports known in recent days indicate that the president of the United States, Donald Trump, is considering 11 candidates for the position of president of the Federal Reserve. They include a couple of market experts: David Zervos, strategist head of markets of Jefferies, and Rick Rieder, Director of Global Fixed Income Investments in Blackrock. Zervos is popular in betting markets and his probability of being Trump's chosen one is now similar to that of the former Fed Kevin Warsh, one of the favorites to succeed Powell.
Trump-Poutin meeting
Another of the great points of interest for the market is in Alaska. There will meet Trump and his Russian counterpart tomorrow, Vladimir Putinto try to reach A peace agreement in Ukraine After more than three years of conflict. Trump has warned Russia that there will be serious consequences if it blocks the path to peace in Ukraine. These consequences are expected to take the form of much harder economic sanctions. Trump also assured that Plan a subsequent meeting that includes Ukrainian President Volodimir Zelenski. «The next meeting will be between Zelenski and Putin, or Zelenski, Putin and I. I will be there if they need it, but I want there to be a meeting between the two leaders,» he said before the media. Nevertheless, Any agreement seems impossible without kyiv giving part of the lost territory before Russia. This is not only a clear and manifest aspiration of Putin, but Trump himself has recognized that it will be difficult to recover all the lands lost with Russia, an unjustifiable demand for Zelenski. Moscow currently controls a fifth of the Ukrainian territory. The European Union (EU) will not be present in the negotiations and has assured that an agreement with Moscow is impossible without Brussels or kyiv on the table. «For any agreement to be implemented, Europe is needed and Ukraine. So it is clear that Putin only pretends to negotiate, he only wants a photo with President Trump and also postpone the sanctions«said Estonia Kaja Kallas, the highest representative of European diplomacy. Holger Schmieding, Berenberg chief economist, in the event that the summit threw a significant result, the short -term economic impact would probably would probably be modest. He also believes that Europe» would commit stupidity «if it would increase the imports of Russian energy, since Putin could use each extra euro To Europe to quickly rebuild its army. Marginally, it could even strengthen the European right (and left) parties that have fallen into Putin's wrong narratives and deepen divisions within the EU, «he says.
Companies and other markets
On the business level, Cisco He has disappointed with his accounts of the fourth fiscal quarter. The quarterly benefits and income were slightly better than expected, but not enough to meet the expectations of analysts. On the other hand, Besent said he suggested extend your income distribution agreement with NVIDIA and AMD to other industries. Recently NVIDIA and AMD agreed to give the US government 15% of any chip sale in China in exchange for export licenses. «Basically, they are a form of tariff on exports at source«, says Neil Wilson, Saxo Bank investment strategist. Amazon shares have risen 2.86% After the company announced that «dozens of millions of prime members can now buy perishable foods along with the rest of the Amazon team for the same day with fast and free delivery.» In other markets, The Bitcoin He has marked A new historical maximum above $ 124,000. He Ethereum He has approached $ 4,800, very close to his historical record. He oil has risen: the Brent It has been located at $ 66.93 and the WTIin 64.01. The ounce of gold has yielded 0.65% ($ 3,386) and euro It has lost ground compared to the 'green ticket' (-0.46%, $ 1,1649). He 10 -year -old American bonus yield has risen to 4,289%.
