The main indices of Wall street They are trading positive, with an average rise of 0.35%, and are seeking to end the week in green after the support they received this Thursday from the president of the Federal Reserve (Fed), Jerome powell, during his speech at the Jackson Hole symposium.
Specifically, the central banker said that inflation will be allowed to exceed the 2% target without taking action on the matter, that is, he hinted that interest rates will be low, close to zero, for a long, long time. Analysts have interpreted Powell's words and believe that the market should not expect rate hikes at least two years from now, although there are some who venture that they will remain. immovable until 2024.
That will undoubtedly continue to support the US indices. So far this week, the S&P 500 is up 2.5%, posting its best week since July 2 and its fifth straight week of earnings for the first time this year. He Dow Jones and the Nasdaq, for their part, they have also gained more than 2%.
This Friday the Jackson Hole symposium continues, which is held online, although it is not the only thing that will focus the attention of investors, since macroeconomic data such as consumer spending are also known, which has slowed down in July as that the economic recovery has lost momentum. Specifically, it increased 1.9%, while personal income rose 0.4% in the same month.
The US consumer confidence data has also been published, which has improved although the mood is still vulnerable. Specific, consumer sentiment measured by the University of Michigan index increased slightly in August to 74.1, which is 1.6 points more than in July. However, despite this modest improvement, the index remains almost 23 points below pre-pandemic levels.
And at the business level, this Friday highlights Modern, than negotiate with Japan supply 40 million doses of the Covid vaccine. Investors are also aware of Exxon Mobil and Pfizer, that move with falls where it will be his last session on the Dow Jones. It is also the last day of Raytheon Technologies (formerly United Technologies), and it is that as of next Monday these three companies will leave their place in the selective to Salesforce.com, Amgen and Honeywell.
In Europe the stock exchanges have closed with mixed sign, and in Asia the fall recorded by the Japanese Nikkei, of more than 1%, after announcing the Japanese Prime Minister, Shinzo Abe, who leaves office for health reasons. And it is that the ulcerative colitis that he suffers has worsened.
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