NEW YORK (awp international) – US stock markets rose moderately on Wednesday. The Dow Jones Industrial closed 0.14 percent higher at 40,890.49 points. The S&P 500 rose across the market by 0.42 percent to 5,620.85 points. The technology-heavy Nasdaq 100 rose 0.53 percent to 19,824.84 points.
Price movements were limited ahead of the central bankers’ meeting in Jackson Hole, Wyoming, which began on Thursday. Investors are mostly waiting for Jerome Powell’s speech on Friday. The head of the US Federal Reserve (Fed) may emphasize the success of the fight against inflation and prepare the markets for a rate cut in September, experts at the trading platform Etoro believe.
From a business perspective, the focus will be on selling stocks on Wednesday. Macy’s shares fell nearly 13 percent after the department store chain lowered its sales outlook. On the other hand, the discount target raised its profit outlook and exceeded market expectations for like-for-like sales in the last quarter. The shares rose 11.2 percent.
Walmart shares rose 0.9 percent. The retail group divested itself of its interest in JD.com, as the Chinese online retailer announced. In doing so, Walmart ended an eight-year partnership that appears to have brought more or less profit in a difficult environment for Chinese tech giants. JD.com’s inventory receipts fell 4.2 percent.
Ford shares rose 1.6 percent. The carmaker canceled its plans to make an electric-only off-road vehicle and instead wants to produce it as a hybrid variant. In this context, the company cancels $ 400 million. In the coming quarters, the amount could increase up to another $1.5 billion.
Vector shares rose 8.2 percent to $15.13. Japanese tobacco company JT is offering $15 a share for Vector and wants to expand its position in the US by taking over the company.
Shares of Keysight Technologies rose nearly 14 percent after the measurement instrument provider released an improved market outlook for the current quarter.
The euro rose to a 13-month high of $1.1174 in US trade. The highest value of the BOAT sector was 1.114 US dollars. The European Central Bank (ECB) set the reference rate at 1.1116 (Tuesday: 1.1084) dollars. So the dollar cost 0.8996 (0.9022) euro.
US government bonds rose. The futures contract for ten-year government bonds (T-Note Future) gained 0.17 percent to 113.75 points. As a result, the yield fell to 3.80 percent./edh/he
2024-08-21 20:41:04
#York #stocks #close #Dow #slightly #higher #ahead #central #bank #meeting
