Wall Street is trading with moderate purchases this Friday after the earnings Thursday as investors focus their attention on the First rate cut by the Federal Reserve (Fed)which the market discounts almost 100%, will be announced by the central bank at the meeting on September 18. «Investors are already very attentive to the meeting that will be maintained by the Federal Open Market Committee (FOMC) of the Fed next Tuesday and Wednesday, when the US central bank is expected to start the process of lowering official interest rates«, they explain at Link Securities. The market gives a 57% probability that the Fed cut interest rates by 25 basis points and 43% to do so in half a percentage point. And the latest macro data fits with «in the 'most encouraging' category that Fed officials have been waiting for and, together with a more benign employment report in August, support a rate cut. 25 basis points in September,» they say at Oxford Economics. These experts also expect that the Fed to adopt a more gradual pace of easingwith 25 basis point cuts every two meetings, as it seeks to support the economy but ensure inflation does not accelerate again. However, other analysts still do not rule out the US central bank starting its monetary easing cycle with a 50 basis point cut. Especially after the words of William Dudley, former president of the New York Federal Reserve, who sees room for further cuts.After the Fed cuts the market will be calmerwith volatility in technology because brokers will occasionally want to create volatility to generate business and that should not worry us in the least. In any case, they will provide some opportunities to buy cheaper. From now on The market will be calmer in positivebut without getting too explosive at all because the American elections are just around the corner and that will tend to favour a flat market,» they analyse at Bankinter. The macro agenda for this Friday has included the publication of the consumer sentiment index from the University of Michigan, a good leading indicator of private consumption in the country, which rose to 69 points in September, 1 point above consensus forecasts. In the weekly computationwith the current session still to come, the New York indices are on track to end a bullish week, in which the Nasdaq rises by 5.3%, S&P 500 3.5% and the Dow Jones 1.9%.
TECHNICAL ANALYSIS
He Nasdaq has reacted again in the last sessions. «The good signal seen this past Wednesday makes him keep its main upward trend intactIn the short term, everything seems to indicate that we could end up seeing a attack on the resistance of 19,938 points. Its behavior at this price level is very important. If it manages to overcome these prices, the end of the triangulation of the last few months and the continuation of the rises to the historical highs drawn in July at 20,690 points,» explains César Nuez, technical analyst at BitcoinDynamic. «If it manages to get into a free rise, it is likely that we could end up seeing a attack on the 22,000 point level. We will not appreciate a sign of weakness as long as it remains trading above the 18,400 points«, adds Nuez.
COMPANIES AND OTHER MARKETS
On the business level, Boeing falls by about 1.5% after the workers of the company have started a strike after reject the labor agreement which the unions had reached with the aircraft manufacturer. In addition, Moderna shares fall again this Friday by 3.5% after falling 12.36% on Thursday, after announcing its plans to «reduce annual research and development (R&D) expenses by approximately $1.1 billion starting in 2027.» The news was not well received by experts, and Several analysis firms have cut their ratings on the company's shares.
Adobefor its part, plummets more than 8% to disappoint with its quarterly forecastsalthough the company has beaten consensus expectations with its fiscal third quarter results. In other markets, oil West Texas rises 0.89% ($69.59) and the Brent advances 0.90% ($72.58). For its part, the euro It appreciates 0.17% ($1.1093), and the ounce of gold earns 1.06% ($2,607). In addition, the 10-year US bond yield relaxes to 3.657% and the bitcoin loses 0.82% ($57,854).