Wall Street is trading with a mixed sign this Thursday after the increases of more than 1% that were seen this Wednesday on the other side of the Atlantic and that led the Nasdaq to mark new historical highs due to the push of the technological companies (Nvidia, Apple…), as well as the S&P, which exceeded 5,600 points for the first time. On this day, investors' attention has been focused absolutely in the US June CPIwhose decline causes profit-taking by technology stocks. Consumer Price Index (CPI) ha dropped to 3% year-on-year compared to 3.3% in May, according to data published by the US Bureau of Labor Statistics. For its part, the underlying inflatione, which excludes food and energy, has moderated slightly to 3.3% from 3.4% previously. Both figures were better than the consensus expected. «The door to a cut in September was already ajar before today's data, and these figures force that door to be opened a little further. As long as inflation continues to behave and cracks in the labour market continue to appear, First 25 basis point cut seems likely in penultimate FOMC decisionlikely followed by another such cut in December,» said Michael Brown, senior research strategist at Pepperstone. This week, in his appearance before the Senate, Jerome Powell, the Chairman of the Federal Reserve, repeated that «More good data» on inflation is needed before initiating rate cuts. «With inflation a little more moderate, I think that Some of the big tech companies could perform somewhat better«Mike Bailey, director of research at FBB Capital Partners, told CNBC. «Any upside surprises in inflation are going to mean downside surprises for the markets. I don't think that's going to happen. I see it as a low probability, but it's there.» On the corporate front, stocks of PepsiCo shares fall more than 2% after the beverage and snack giant reported second-quarter profit that beat expectations but revenue that fell short of expectations, citing weakness in North American food and the impact of a recall at Quaker Foods.
Costco Wholesale is up 3% on the stock market after announcing that it will increase annual membership fees for the first time in seven years for its US and Canadian customers, effective September 1. WD-40 Companya company specializing in the manufacture of chemical products, soared 12% following the publication of its fiscal third quarter results report, with total net sales up 9% from the same period last year. Also, keep an eye on Manzana after learning that it has reached an agreement with EU regulators to Open up its mobile payments system to rivals. As for other highlights of today's agenda Thursday, the following have been published: weekly unemployment claimswhich have fallen to 222,000, and speaks Raphael Bostic, Fed member. This, after this Tuesday and Wednesday, as mentioned above, the president of the Federal Reserve (Fed) has given samples of their usual The US central bank has been cautious in recent times regarding its plans to start cutting rates. We remind you that tomorrow, Friday, US bank earnings season beginswith the accounts of JP Morgan, Citigroup, Bank of New York Mellon and Wells Fargo.
OTHER MARKETS
The euro is trading at $1.0845 (+0.13%). Oil is up 0.2% (Brent barrel: $85.26; WTI barrel: $82.20). Gold is up 0.4% (2,389 dollars) and silver is up 0.99% (31.32 dollars). Bitcoin is trading at $58,250 and Ethereum at $3,137. The yield on the 10-year US bond is down to 4.277%.