US Stocks Continue Winning Streak: Sheriff Adel’s Impact on Interest Rate Cut Speculations

Sheriff Adel (Washington)

The Dow Jones industrial average of US stocks continued its strong performance for the eighth day in a row, recording its longest winning streak since last December, driven by higher expectations for an interest rate cut by SA, faster than expected the market has moved over. the past three weeks.
At the end of trading on the last day of the week, which was the best week this year, the Dow Jones industrial average rose by almost a third of a percentage point, while the S&P 500 index added 0.16% its value at the beginning. of trade, while the Nasdaq index, which is full of technology companies, was in the Red sector, although with a slight decline, it did not exceed 0.03%.
The three major indexes ended the week on the rise, with the Dow Jones index recording gains of 2.16%, ending its streak of weekly gains to four, while the S&P 500 rose and Nasdaq for the third week, with an increase of 1.85% and 1.14% respectively.
Despite these increases, May’s preliminary reading of the University of Michigan Consumer Confidence Index came in at 67.4, well below the Dow Jones estimate of 76, and representing the lowest reading in about six months.
Brian Nick, chief investment strategist at the Macro Institute, said the data could indicate that “inflation is not moving in the right direction.” “You get hit from both sides. People think things are worse than economic growth says, and will stay worse, and they worry about inflation. That’s not a happy formula for stocks or bonds.”
Claims for unemployment aid in America recorded their highest level since the end of last August, in what was seen as new evidence that the strong labor market is changing, as Jerome Powell, the Chairman of the Federal Reserve Bank hopefully, to eliminate the strongest. wave of inflation the country has seen in more than four decades.