Wall Street holds steadily on Tuesday, stuck quietly in the summer.
S&P 500 decreased by 0.2 %, a day later Busty crawlAnd it is still near a group at all last week. The Dow Jones industrial average increased 68 points, or 0.2 %, as of 9:35 am East time, and the Nasdaq compound decreased by 0.4 %.
Home Depot 3.1 % of DOW leadership rose higher after reporting results for the last quarter, which was slightly less than what analysts expected.
The retail seller said that homeowners focus on smaller and lowest household reforms with the postponement of the largest projects due to high interest rates and continuous concerns about inflation. But that She stood beside her previous expectations For revenues and profit over the full year.
Other adult retailers will provide the latest profit updates in the coming days. Lowe’s and TARGET on Deck for Wednesday, while Walmart and Ross Stores will be presented on Thursday.
Nevertheless, the possible week’s addresses will not reach the week until Friday, which may continue to circulate in Wall Street relatively calm until then. This is when the Federal Reserve Chairman, Jerome Powell, delivers a very expected speech at Jackson Hall, and Wyoming. The preparation was home to the large policy advertisements of the Federal Reserve in the past, and the hope of Wall Street is that Powell may give a hint that interest rate cuts will come soon.
The Federal Reserve was maintaining the main interest rate this year, due primarily to the fear that President Donald Trump’s tariff might push inflation to the top. But an amazing weak report on job growth throughout the country and anxiety about the American economy may replace it.
Wall Street merchants are widely expecting the Federal Reserve to reduce interest rates at its next meeting in September. Treasury revenues decreased significantly in the bond market as a result, and remained less on Tuesday.
The return on the cabinet decreased for 10 years to 4.31 % from 4.34 % late Monday.
Nevertheless, strategists at Bank of America warn that Powell may not seem to tend to reduce interest rates as the market expects. It can remain inaccurate and discuss the possibility of a scenario of the worst case of the economy called “stagnation”. The Federal Reserve does not have a good tool to repair this situation, as the economy runs at the same time that inflation remains high.
In Wall Street, Palo Alto networks increased by 6.5 % after reporting profits and revenues for the last quarter that topped analysts’ expectations. The Cyber Security Company also provided predictions of profits and revenues in its next financial year, which was higher than Wall Street.
Tigna 4.8 % rose after the Nexstar Media Group Group said it would buy the owner of 64 TV stations throughout the country for $ 22 per share, giving the deal a total value of $ 6.2 billion, including debt. NexStar, which owns CW and local TV broadcasters, added 7.2 %.
The companies said that the combination of them would give them broader access and allow them to compete better with large technology and old media.
Viking Therapeutics decreased by 39.7 % after the biological pharmaceutical company released results from a clinical trial for its oral tablet, which can treat obesity and other metabolic disorders.
In stock markets abroad, indexes in Europe rose after they decreased modestly in Asia.
The Nikkei 225 index in Tokyo decreased by 0.4 %, as Softbank Group has decreased by 4 % after it announced that it had received $ 2 billion in the United States Intel chip maker.
Intel, which was recently climbing reports that the Trump administration might take a royal share in the company, increased by 7.5 %.
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Ap Matt Ott and Elaine Kurtenbach business authors.
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