Wall Street is trading with moderate sales this Thursday after shopping on Wednesday, which allowed the S&P 500 and to Nasdaq renew highs once more, and at Dow Jones close above 45,000 points for the first time. Now, investors await the publication of more notable references. «2024 has been a stellar year for US stocks, and the Dow's first close above 45,000 points appears to mark the culmination of a two-year rally. Signs of another rate cut this month, plus solid earnings and GDP growth, make investors see no alternative but to continue putting money to work in the largest economy in the world«comments Chris Beauchamp, chief market analyst at IG. At a macro level, the market's attention goes through the labor market situation. This Thursday's agenda included the weekly unemployment datawhich have shown an increase in unemployment claims greater than expected. Although all eyes are on him November official employment reportwhich will be known on Friday, and for which the creation of 200,000 new jobsafter the 12,000 the previous month due to the impact of the hurricanes. All of this will be key for the Federal Reserve (Fed) rate decision at its meeting on December 18 and for which the market discounts, with a probability of 74%, according to the CME Group's FedWatch tool, which will carry out a new 25 basis point cut. In this sense, the president of the Fed, Jerome Powellstated this Thursday at a symposium in New York that the strength that the US economy is showing allows the organization to adopt a more «cautious» approach at the time of reduce rates of interest. «Fed Chairman Powell couldn't help but admit that the US economy is in remarkably good shape, and that downside risks to the labor market have decreased. But his words did little to convince Fed supporters to lower their expectations for a 25 basis point cut by December,» said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
MARKET ANALYSIS
For Bankinter experts, «the market is willing to endure everything without breaking a sweat. Even a frustrated self-coup in South Korea, Germany's miserable 2025 GDP, the fall of the Government in France or the cold-blooded murder of the CEO of UnitedHealth's main division. It is like that, at least, these days, for the positioning or repositioning for 2025«. «But this has the risk of leaving 2025 without additional travel and let it start slowly. At the moment it works, but it is advisable to be increasingly cautious because these phases of generosity in asset prices usually take their toll,» they warn.
COMPANIES AND OTHER MARKETS
At the business level, American Eagle plummets 15% after disappointing quarterly results and cutting annual outlook. In other markets, oil West Texas rises 0.50% ($68.88) and the Brent advances 0.43% ($72.62). For his part, the euro appreciates 0.15% ($1.0526), and the ounce of gold gives 0.10% ($2,673). Furthermore, the 10-year American bond yield revalues to 4.23% and the bitcoin earn 3.62% ($102,433) to mark new all-time highs.