(New York) The New York Stock Exchange, which started down on Friday, was moving in mixed order after a producer price index rose slightly in July.
The Dow Jones Index gained 0.39%, the technology-heavy NASDAQ fell 0.30% and the S
The wholesale price index rose 0.3% month on month in July, while analysts expected 0.2% and prices had been flat the month before. Service costs (0.5%) drove the increase, showing that inflation is still present.
However, these figures “should not change the outlook for the next meeting of the Fed’s monetary committee in September” which should maintain a status quo on key rates according to market bets, said Will Compernolle of FHN Financial.
The day before, after the figures for general inflation (0.2% over the month and 3.3% over one year) had not exceeded analysts’ forecasts and the indices had finished slightly in the green.
The Dow Jones was up 0.15% at 35,176.15 points, the NASDAQ was up 0.12% at 13,737.99 points and the S
Friday, on the bond market, the rates tightened slightly. The 10-year one was at 4.14% around 10 a.m. (Eastern time) against 4.10% the day before.
The dollar rose (0.16%) against the euro.
In an interview with Yahoo Finance on Thursday night, San Francisco Fed Chair Mary Daly reaffirmed that “the victory is not yet here” against inflation and that there is still “work to be done.”
The index measuring this confidence fell 0.6% compared to July, to settle at 71.2 points, according to the preliminary estimate carried out by the University of Michigan and published on Friday.
This estimate, however, exceeds the expectations of analysts, who anticipated a sharper drop in the index.
On the side, the Tapestry group, which oversees the Coach and Kate Spade brands, gained 2.19% after losing almost 16% the day before when it announced the takeover of Capri, parent company of Michael Kors and Versace. Capri fell 1.19% after surging 55% on Thursday.
Seven sectors out of the eleven of the S
Information technology led the decline, including Meta (Facebook) which lost 1.24%.
Tesla for its part fell by 1.67%, probably unrelated to the fact that its boss Elon Musk announced that he intended to organize his fight with the leader of Facebook Mark Zucherberg in Italy.
The hotel and casino group Wynn Resorts fell 3.15% after climbing sharply on Thursday on the announcement of better than expected results.
