Wall Street: Corrected after records

Wall Street: Corrected after records

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The main Wall Street indexes put a “brake” on their historic highs today (20/6), with rising bond yields overshadowing new American economic data. The dollar held on as higher yields widened the spread against non-dollar currencies, which were moving lower.

The S&P 500 and the Nasdaq extended their record streak intra-sessional, before finally falling, with the former on top for the first time in history 5,500 units. THE Dow Jones was the only major index to hold its gains. In particular, in Thursday’s session the Dow Jones “rose” by 0.77% or almost 300 points and closed at 39,134.76 points. In contrast, the S&P 500 lost 0.25% to 5,473.17 and the Nasdaq was 0.79% lower at 17,721.59.

The rally on Wall Street is based on enthusiasm for Artificial Intelligenceled by the chipmaker Nvidia, which became the most valuable company in the world based on market capitalization. Nvidia also erased early gains and fell about 3.5 percent. The stock is up more than 160% this year as the artificial intelligence boom continues to boost parts of the industry even as consumer spending weighs on it.

The 10-year yield bond in the US rose 3.5 basis points to 4.252%. The 30-year yield rose 3.7 basis points to 4.3908%. The 2-year, which generally moves in line with expected interest rates, rose 2.5 basis points to 4.7287%.

The index DOLLARS, which measures the dollar against a basket of currencies including the yen and euro, rose 0.3 percent to 105.53, with the euro down 0.24 percent to $1.0715. Against the Japanese yen, the dollar strengthened to its highest level since April 29, which is by 0.44% to 158.77 yen per dollar. Sterling fell to a five-week low against the dollar and last traded 0.31% lower at $1.2678 per British pound.

the disappointing data of housing starts and building permits, along with a report on jobless claims, appeared to argue that its strict policy feeding have the intended effect. This, combined with the bullish sentiment expressed by the Bank of England – which is holding back on monetary easing ahead of the upcoming UK election – and the Swiss central bank’s interest rate cut, appear to give the Fed little room to maneuver during its first. rate reduction.

However, expectations for interest rate reduction in September they “disappeared”. Financial markets are pricing in a 57.9% probability of a 25 basis point decline in September, up from 61.1% a week ago.

Its prices closed with gains today wool, which drew more from US crude oil and gasoline inventories, which fell for the first time in weeks, suggesting a pick-up in demand. US WTI crude for July delivery rose 0.74%, or 60 cents, to $82.17 a barrel. Brent for August delivery closed at $85.71 a barrel, up 0.75% or 64 cents.

On a weekly basis, US WTI is up 4.8% year to date and is up 14.6% year to date. For its part, Brent has gained 3.8% so far, while since the beginning of the year it has strengthened by 11.2%.

U.S. crude oil inventories fell by 2.5 million barrels last week, according to data released by the Energy Information Administration on Thursday. The decline beat the expectations of analysts polled by Reuters. Gasoline inventories fell by 2.3 million barrels, while analysts had expected a rise of 620,000 barrels. And refined inventories, which include diesel, fell by 1.7 million barrels, while analysts had expected an increase of 261,000 barrels.

At the highest price in the last two weeks found on Thursday the futures contracts for GOLD and silver. Spot gold rose 1.4% to $2,358.79 an ounce, the highest since June 7. Gold for August delivery rose 0.9% to $2,369 an ounce. At the same time, the spot price of silver strengthened by 3.4% to $30.77 per ounce.

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