Wall Street has closed with moderate falls (Dow Jones: -0.34%; S&P500: -0.40%; Nasdaq: -0.34%) This Thursday, in a session marked by the results of Walmart and with the focus on the Jackson Hole's economic symposiumwhose great attraction is the appearance of the president of the Federal Reserve (Fed), Jerome Powellthis Friday (at 4 in the afternoon, Spanish time). «Jerome Powell's speech could find a midpoint: Recognize the growing concern for the labor market and, at the same time, to emphasize that inflation remains a key risk that must be approached with caution, «Ipek Ozkardeskaya, Swissquote Bank's senior analyst, advances.»A part of the market expects that, somehow, Powell confirms the assumption of a new type reduction in Septemberwhich would be the first in 2025, betting because the weakness shown in July by the labor market can lead to the FED to make its monetary policy more, «they say on Link Securities. If not, and keep Powell the speech that the central bank will remain waiting to verify the inflationary impact of tariff react negatively«These experts emphasize.» The Fed will probably announce a 25 basic points cut next month, but it will not give additional signals, «adds Ozkardeskaya. In fact, the market discounts with a probability of 81%, according to the Fedwatch of CME tool, which the American central bank The types will lower in 25 basic points at its September meeting. A monetary conclave that seems complicated, since Fed Minutespublished on Wednesday, they showed Division within the organism over the next steps To follow. «Fed officials were concerned with both the weakening of employment data and inflationary risks, but that 'most participants considered that upward risks for inflation were the elderly.' This means that Officials remain inclined to prioritize inflation control maintaining a restrictive monetary policy Instead of cutting interest rates, «says Ozkardeskaya. However, it should be remembered that the document refers to the meeting held Before the publication of the problematic employment report of Julywith important downward reviews, which alarmed investors and fed the expectations of a cut in September. «The FOMC meeting was held before the publication of the July Employment Report, which was quite disappointing, so the market, after analyzing the content of these minutes, has maintained its conviction that in September the Fed will lower its rates at 25 basic points«, highlight in Link Securities.
With the focus on weekly strike and the PMIS
The economic agenda has also focused on Thursday the interest of investors, with the publication of the weekly unemployment requestsa good approach to the evolution of the American labor market, which has become the new headache of the Fed. The data has shown a higher requests than expected, up to 235,000. In the same way, the PMIS services and preliminary manufactures of Augustwhich have accelerated until their highest brand of the last 8 months between inflationary fears.
Companies and other markets
On the business level, Walmart He has been the main protagonist with his results. The largest world supermarket chain has fallen 4.5% after improving its forecasts, but at the same time warn of an increase in your costsdue to tariffs. In other markets, oil West Texas has risen 1.08% ($ 63.40) and Brent has advanced 1.02% ($ 67.53). For its part, the euro 0.41% ($ 1,1604), and the ounce of gold It has dropped 0.10% ($ 385). In addition, the 10 -year American Bonus Profitability It has revalued 4.33% and the Bitcoin has lost 1.79% ($ 112,032).