Wall Street indexes ended the week little changed, with the Nasdaq leading the way, posting its fifth consecutive record high, though the weekly tally for all three major indexes remain mixed.
In particular, the industrialist Dow Jones lost 0.15% to 38,589.16, the broader S&P 500 fell 0.01% to 5,433.00 and the tech-heavy Nasdaq Composite rose 0.15% to 17,693.43.
At the stock level, with a mini-rally of around 15%, Adobe stock reacted after the strong results it announced, and the same happened with Broadcom, which completed the most very weekly show in its history.
Acquiring stocks include Shopify after its stock was upgraded by Evercore ISI, and Hasbro after its stock was upgraded by BofA.
On the other hand, the negative performance of Caterpillar kept the Dow down, while the decline of Carnival, Norwegian and United Airlines affected the performance of the S&P 500.
At the same time, it is recalled that the University of Michigan research on consumers shows that the consumer the climate drops to 65.6 in June from 69.1 in May and that reading was also below the Dow Jones estimate of 71.5.
But more broadly, hopes of a continued decline in inflation gave the S&P 500 and Nasdaq a boost this week. The S&P 500 and Nasdaq Composite are on course to end the week higher by 1.3% and 2.7%, respectively, with both benchmarks also hitting record highs over the past five days.
At the same time, wholesale inflation unexpectedly fell 0.2% last month, while economists polled by Dow Jones expected the index to rise 0.1 percent.
In the bond market the picture was mixed, with the 10-year yield falling to 4.209% and the 2-year rising slightly to 4.692%.
Sure, the Federal Reserve at the end of its two-day meeting on Wednesday, revised its financial forecasts with the new dot plot signaling just one rate cut this year, but with improved expectations. However, many investors want to live in good data from the inflation front, believing that if they continue, the resistance of the Fed can turn and finally start the cuts from the meeting in September.
US crude snapped a three-week losing streak on Friday as analysts saw a tighter market ahead in the third quarter.
Oil prices fell for the day but ended the week down nearly 4% as mid-summer fuel demand is expected to reduce inventories in the coming weeks, although the season has started slowly. start
Specifically, US WTI crude for July delivery closed at $78.45 a barrel, down 17 cents or 0.22%. Since the beginning of the year to date, it has registered an increase of 9.5%.
Meanwhile, Brent for August delivery closed at $82.62 per barrel, down 13 cents or 0.16%. Since the beginning of the year to date, it has increased by 7.2%.