Wall Street has traded with doubts and only the Dow Jones has managed to finish on Wednesday in positive after the Federal Reserve (Fed) has anticipated that interest rates will remain at lows until 2024. This Wednesday is the second day of the US central bank meeting, the first since the steering wheel announced by Jerome Powell's men. In addition, a retail sales data which is below expectations.
"To achieve inflation moderately above 2% for some time" is the objective that the Fed has set for the future. Forecasts for the core PCE, its favorite measure of inflation, anticipate 1.5% in 2020, 1.7% in 2021, 1.8% in 2022 and 2% in 2023.
The August retail sales data in the US was another appointment to follow this Wednesday. Analysts collected by FactSet anticipated an increase of 1.1% compared to the increase of 1.2% experienced last July. However, It has only risen 0.6%.
In business matters, FedEx (+ 5%) rises after beating expectations with its quarterly results. Apple is trading practically flat after introducing some of its new devices with a large absentee: the iPhone 12. Investors are also very aware of Facebook (-0.8%), which faces a fine of up to 5,000 million dollars for allegedly violating the antitrust regulations.
On the health front, the American president, Donald Trump, He has promised that the United States can have a coronavirus vaccine ready in a month. "We are just weeks away from getting it", has assured.
In the raw materials market, West Texas barrel, a benchmark in the United States, is trading more than 2% higher, to around $ 39, after hurricane season It gives wings to oil prices again. It is because more than 25% of the 'offshore' facilities had to close this Tuesday due to Hurricane Sally, which continues to hit the Gulf coast in the country.
For its part, in the foreign exchange market, the euro appreciates 0.1% right now and 1.1858 dollars are exchanged. And in the debt market, the yield on the US ten-year bond stands at 0.66%.
Across the Atlantic, the Ibex has become unmarked from Europe and has risen strongly thanks to Inditex and with an eye on the Fed. Finally, in Asia stocks have closed mixed after the collapse of Japan's exports in August.
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