The stock market comeback also remains without continuity in New York despite the good tone of some economic references.

The stock market comeback also remains without continuity in New York despite the good tone of some economic references.

The stock market comeback also remains without continuity in New York despite the good tone of some economic references.

Wall Street gives in again to declines, although more calmly than in previous episodes of correction. Investors remain on tenterhooks pending the situation between Ukraine and Russia, as well as any indication of the next moves of central banks. Not even the publication of a battery of solid macroeconomic data has been enough to prolong the comeback of the New York parquet.

Opportunistic positions formulated on Tuesday choose to checkout a day later. And it is that this Wednesday the expected ones see the light minutes of the last meeting of the US Federal Reserve (Fed). The same in which both the statement and its president, Jerome Powell, stressed that “soon” would be the time to raise interest rates in the world’s leading economy.

Waiting to know the details of the conclave that led to this affirmation, the dow jones 0.7% is left and one more time says goodbye to 35,000 points. The S&P 500 falls 0.8% to 4,400 points. A larger 1.4% is what the nasdaqwhich slides towards 13,900 points.

This is how Wall Street opens
Eduardo Bolinches

One of the most important data that comes to light this Wednesday is that of retail sales. In January, there was an increase of 3.8% that comfortably exceeded analysts’ forecasts and the weak figures for December. In addition, the forecasts of the sector point to an increase of 4.8% compared to the much more meager 1% that the economists were handling.

The good tone is also repeated in the index of Industrial production, which reflects an increase of 1.4% in the first month of the year. A rate that is 100 basis points higher than expected. Furthermore, the rate of utilization of installed capacity increases to 77.6%.

Ketchup and Coachella

In the corporate sphere, one of the protagonists is Kraft Heinz. The food group known especially for its sauces rises 4% on Wall Street after having published a net profit of 1,012 million dollars in the last financial year, which means almost triple the earnings of a year ago. And that despite the fact that sales fell 0.5% to 26,042 million dollars.

More moderate, barely half a percentage point, is the increase in The Walt Disney Company. The entertainment group has announced its leap into the residential real estate development business with the help of DMB Development. The new line of business will be called Storyliving by Disney, and will have its first development in Rancho Mirage, in the well-known Coachella Valleyin California.

Punishment of technology

The falls strongly mark the session for the Swedish shares ericsson listed on Wall Street. The setback reaches 15% after the company has formally recognized that would have paid the Islamic State (ISIS) for accessing certain areas dominated by their militiamen in order to carry out network maintenance tasks.

Red also takes over tech stocks Roblox Y Shopify. Both lose close to 20% after having published accounts and business forecasts that are far from the demanding estimates that analysts had pointed out respectively for the gaming and shopping platform on-line.

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