Wall Street was moving in disarray on Monday after a week of records and the cautious remarks of the president of the American Central Bank (Fed) on monetary policy.
Around 2:15 p.m. GMT, the Dow Jones index dropped 0.19%, the Nasdaq, with a strong technological coloring, advanced 0.60% and the extended S&P 500 index gained 0.27%.
On Friday, the Nasdaq at 15,129.50 points (1.23%) and the S&P 500 at 4,509.37 points (0.88%) had set new records, the 4th of the week for the Nasdaq. The Dow Jones ended up 0.69% at 35,455.80 points.
Fed Chairman Jerome Powell left the door open on Friday to a possible asset purchase cut announcement before the end of the year, but he also gave the impression that he was waiting to see the report. on the August job this Friday before being persuaded to announce a schedule, “said Patrick O’Hare of Briefing.com.
Speaking at the Jackson Hole conference, Powell just confirmed that “it may be appropriate to start slowing down the pace of asset purchases this year.” But he did not give a date and appeared very focused on improving the labor market. The boss of the Fed also assured that reduction in asset purchases did not rhyme with an increase in interest rates, which reassured Wall Street.
Yields on 10-year Treasuries were down a bit to 1.28% from 1.30%.
The week ahead is rich in indicators, starting with consumer confidence on Tuesday, the activity of the manufacturing sector on Wednesday, the cost of employment and industrial orders on Thursday to culminate in job creation and the unemployment Friday.
For these eagerly awaited employment figures, analysts predict 750,000 new hires last month, down from 943,000 job creations in July. The unemployment rate at 5.4% could drop to 5.2%.
Investors are also monitoring Storm Ida and “the aftereffects it could leave on Louisiana,” noted Patrick O’Hare.
The entire city of New Orleans is in darkness, and almost all of the oil production on the Gulf Coast of Mexico has been shut down.
On the stock chart, the title of vaccine manufacturer Moderna lost 1.80% to 375 dollars while batches of its serum were suspended in Japan after the death of two people injected.
While the US health authorities (CDC) were to raise during a consultative discussion the question of a third dose of vaccine against the Covid, Pfizer advanced by 0.38% to 46.76 dollars while BioNtech lost 1.14% at $ 354.
The title of the fintech company, Affirm Holdings, jumped 40% to $ 95. The company, which offers shopping on credit solutions, said it has entered into an agreement with Amazon, which will offer these financing options to some of its users.
The title of video conferencing application Zoom, which is due to disclose its second quarter results after the close, rose 1.13% to 344 dollars.
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