Crucial week for inflation | Wall Street is moving in the green

(New York) The New York Stock Exchange was trading in the green on Monday, an important week in terms of economic data on the front of inflation and consumer spending in the United States.

Published at 9:38 a.m.

The Dow Jones index advanced 0.19%, the technology-dominated NASDAQ gained 0.25% and the S&P 500 rose 0.11% around 10:30 a.m.

Bond rates showed a slight decline, like the ten-year rate which fell to 4.47% compared to 4.49% at the last close.

Last week, the broader S&P 500 index, the most representative of the market, gained 1.9%, ending Friday at 5,222.68 points, just 0.6% of its historic record. The Dow Jones posted a weekly gain of 2.2% at the end of its eighth session in the green in a row, while the NASDAQ increased by 1.1%.

For Art Hogan of B. Riley Wealth Management, the upward trend was driven “by a slight increase in expectations of interest rate reductions from the Federal Reserve (Fed), mainly due to signs of a slowdown in the bond market. work “.

Investors are 63% counting on a first rate cut in September, according to CME Group calculations on futures products.

This week, all eyes will be on Wednesday’s publication of US inflation figures for April, with the CPI index, and retail sales, which give a first estimate of consumption, the engine of the state economy. -United.

“These two indices have the capacity to move things significantly in relation to monetary policy and expectations of rate cuts,” warned Art Hogan. According to him, the inflation figures should “show that the rise in prices, excluding food and energy, probably moderated in April for the first time in six months, offering a glimmer of hope that the tension on prices begins to subside. forecasts a price increase of 0.3% compared to +0.4% in March.

This is going to be an important week that will determine whether the S&P 500 and NASDAQ will be relaunched to new highs or retreat.

Patrick O’Hare of Briefing

The results season is coming to an end, but some retail giants will still announce theirs this week with the DIY specialist Home Depot on Tuesday (-0.40% at 10:05 a.m.) as well as the Chinese giant also listed on Wall Street Alibaba (+5.50%), then on Thursday, the number one Walmart hypermarket (+1.03%).

Arm gained more than 2%. Champion of microprocessor architectures, the British subsidiary of the Japanese group Softbank must launch a division specializing in the manufacturing of chips for AI, with a prototype planned by spring 2025, according to information from the Japanese economic daily Nikkei published this week -end.

The highly volatile shares of video game distributor GameStop, which had fueled a viral frenzy on Wall Street in 2021, experienced a new bout of fever (+71.76% to $29.99 around 10:15 a.m. Eastern time) .

One of the stock marketers with the nickname “Roaring Kitty”, who inspired the forced liquidation of short positions on stocks like GameStop and shook Wall Street in early 2021, reappeared on X for the first time in three years with an enigmatic drawing.



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