Sales on Wall Street This Friday after moderate profits on Thursday and with investors discounting the PCE consumption deflatorthe preferred inflation measure of the Federal Reserve (Fed) and a key fact for the future of the central bank's monetary policy, which fell in May to 2.6%, in line with expectations. general index has moderated slightly to 2.6% from 2.7%, while the underlying variable has eased to 2.6% compared to 2.8% in the previous month. Michael Brownsenior research strategist at Pepperstone, the figures known this Friday «swill bring welcome new relief to the FOMC«as they will help provide additional confidence that the US economy remains on a bumpy disinflationary path.» «If inflation continues to behave and incoming data matches the FOMC's forecasts over the summer, The first 25 basis point cut is still in play as early as September. This is particularly true if emerging cracks in the labor market, such as yesterday's continued jobless claims that hit their highest level since November 2021, were to result in a significant rise in unemployment and/or a negative print on nonfarm payrolls, ahead of such a meeting,» it adds. The agenda also includes the inflation expectations of US consumers for the next 12 months, as reported by the University of Michigan in its survey on the consumer confidence. And all this, on a day that marks not only the end of the week, but also of the month and the first half of the year. In the weekly computationand with the current session remaining, the New York indices are heading towards a green week, led by the Nasdaqwhich is advancing by around 1%. The S&P 500for its part, revalued by 0.3% and the Dow Jones 0.07%. TO monthly levelthe balance for June is also positive, with the Nasdaq leading the rebound (+6%), followed by S&P 500which earns 3%, and the Dow Jones which amounts to 1%. As regards the first half of the yearthe technology index is back on the rise with gains of 19% for the Nasdaqfollowed by a 15% rise for the S&P 500. He Dow Jones is further behind with a gain of 4%.
BIDEN LEAVES 'TOUCHED' FROM THE FIRST ELECTORAL DEBATE
The other focus of attention for the market is the race to the White House and, more specifically, the first electoral debate among the candidates for the presidency of the country, Joe Biden and Donald Trump, which has captured all eyes. A face to face that has left the current US president 'touched' by the doubts about their «aptitudes»appearing hesitant, confused, with awkward pauses or sentences that did not connect with each other. Biden's hoarse voice has also been the subject of analysis, although he himself has commented that he had a «sore throat» due to a cold.
TECHNICAL ANALYSIS
He S&P 500 offers a unbeatable technical aspect. «The North American selective shows a clear bullish channel since the end of April, which has not yet shown the slightest sign of exhaustion. The index is hovering around all-time highs, with There are many chances that it will continue to reach new historical highs«, says César Nuez, technical analyst at BitcoinDynamic. Despite everything, Nuez warns that we must take into account the bullish gap that was left last June 12 in the 5,375 points. «We do not rule out that it may end up covering it, in the next few days, before continuing its upward climb. We will not see a significant sign of weakness as long as it remains trading above 5,191 points«.
COMPANIES AND OTHER MARKETS
On the business level, Nike plummets 16% in the session after presenting its fourth quarter fiscal results and cut their forecasts for the rest of the year. On the other hand, it is news Super Micro Computerwhat could replace Walgreens on the Nasdaq 100, since the market capitalization of the pharmacy chain stands at approximately 10.5 billion dollars, which makes the company «vulnerable» to be eliminated from the US index, since this selective requires that members represent at least the 0.1% of the total market value, which is now about $23 trillion. In other markets, oil West Texas rises 0.21% ($81.91) and the Brent advances 0.20% ($86.57). For his part, the euro depreciates 0.05% ($1.0696), and the ounce of gold earn 0.29% ($2,343). Besides, the 10-year US bond yield moderates to 4.265% and the bitcoin earn 0.07% ($61,476).