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Wall Street closes with gains after digesting the Fed's jug of cold water

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After opening losses, Wall street has turned around and closed the session this Thursday with gains. The New York indices have digested the economic pessimism shown yesterday in the minutes of the last meeting of the Federal Reserve (Fed) and the Nasdaq has soared 1.4%. For their part, the S&P 500 and the Dow Jones, which have taken a little longer to see green numbers, have added 0.32% and 0.17%, respectively.

The Fed Minutes, presented on Wednesday afternoon, recognized the "heavy" footprint that the coronavirus crisis will have on the US economy in the medium term. "After sharp falls, economic activity and employment have rebounded slightly in recent months but remains well below the levels of the beginning of the year ", added the document.

In addition, initial unemployment claims in the US They have rebounded during the last week and have once again exceeded one million, after falling below this barrier during the previous week, when they stood at 971,000. The published figure exceeds the consensus forecast, which anticipated a drop in initial jobless claims to 925,000. The continuous requests, for their part, they have fallen to 14.84 million from 15.48 million, below the 15 million anticipated.

Within the macroeconomic sphere, the Philadelphia Fed Manufacturing Index, which has fallen to 17.2 from 24.1 and has breached the consensus forecast, which anticipated a minor drop, to 21.

The trade war is being another of the topics of the day in the US. China has contradicted the US president, Donald Trump, and from the Asian giant they announce trade meetings with Washington in the coming days.

Asked at an event in Yuma, Arizona, about whether he will withdraw from the trade agreement with China, Trump said Tuesday that he would study it, Reuters reported. The US president also said he did not want to talk about Beijing right now.

COMPANIES AND OTHER MARKETS

On the business front, Nvidia has communicated that it reached a net profit of $ 622 million (525 million euros) between May and July, which meant an increase of 12.7% over the second fiscal quarter of 2019. A relevant aspect of its accounts is that, for the first time since its foundation, the business income of data center surpassed those of the gaming division.

In the raw materials market, West Texas barrel, a benchmark in the United States, has traded with a drop of 0.74% at the close of the US market, to $ 42.79. For its part, in the foreign exchange market, the euro has appreciated by 0.21% and it changes to $ 1.1861. And in the debt market, the yield on the US ten-year bond has been 0.64%.

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