Wall Street quote with featured purchases after knowing relevant economic data which will be fundamental to the monetary policy of the Federal Reserve (Fed). American indices closed this Thursday with soft purchases after a US CPI July in line with expectations, but which the market liked, since left the door open to a first rate cut by the Fed at its meeting September. In this context, the central bank has had numerous references today to gauge the state of the American economy, after the July employment data have raised fears of a US recession. First, July retail sales have shown an unexpected resilience in consumer spending capacityafter registering a 1% advance in the month, which is more than three times the consensus forecasts, which anticipate an advance of 0.3%. In addition, Weekly jobless claims have reached 227,000, below the 235,000 anticipated by the market. It is worth noting that a lower-than-expected unemployment claims reading last week sparked a buying session for US equities. «A resilient economy and a gradual cooling of inflation support the argument for a measured approach to normalizing policy and will reduce the likelihood of a 50 basis point move in the coming months. Strong consumer spending data supports our long-held forecast that the Federal Reserve will begin cutting rates in September by 25 basis points and, from then on, it will do so once a quarter,» comment analysts at Oxford Economics. Finally, this Thursday it has spoken out the president of the St. Louis Fed, Alberto Musalemwho assured this Thursday that The time for a first interest rate cut is getting closerwhile the market has all its confidence placed in the next meeting in September. «From my perspective, the risk for both sides of the mandate seems more balanced. Consequently, The time may be approaching when an adjustment to a moderately restrictive policy may be appropriate. «as we look ahead to future meetings,» he said at an event in Louisville, Kentucky.
Walmart results
In the business scene, the results of Walmartthe supermarket giant that is also considered a barometer of the economy, have been very well received. The company has exceeded expectations and raised its annual profit guidance. In other notable news, Cisco is up sharply after beating consensus forecasts with its results last night and announcing that it will lay off 7% of its workforce. In addition, shares of Nike They also recorded significant increases after the investor Bill Ackman has declared a relevant position in the sportswear firm. In a similar way, Ulta Beautyan American company specializing in beauty and cosmetics, soars after Berkshire Hathawaythe investment conglomerate of Warren Buffetthas declared a relevant position in the capital.
OTHER MARKETS
In other markets, oil Brent rises 1.04% ($80.63), the euro depreciates by 0.5% ($1.0956 and the ounce of gold advances by 0.05% ($2,481). In addition, the profitability of the 10-year American bond rebounds to 3.94%; and the bitcoin adds 0.36% ($59,235).
