Wall Street: halts its slide, but rates still weigh
But by freezing the situation, the US indices escaped the volatility that could have led to a "complicated" scenario in the event of a further downturn: this would have been the seventh for the Dow Jones, which finally clawed back 0.17% to 37,799.
The S&P500 lost 0.21% to 5,051, returning to its February 22 levels, and the Nasdaq Composite crumbled 0.12% to 15,865 (Tesla -2.7%, Apple -2%), confirming that the 15,950 barrier had been breached (next target 15,580, the February 21 "gap").
Jerome Powell's statements had a neutral impact: according to him, recent US inflation data have not given central bankers enough confidence to cut interest rates quickly.
The Fed may have to keep interest rates at 5.25% 'longer than expected': a rate cut in June looks increasingly uncertain in view of US retail sales, which came in above expectations on Monday (at +0.7%).
In Tuesday's statistics, the Commerce Department reported a 14.7% plunge in US housing starts in March compared with the previous month, while building permits fell by 4.3%.
In addition, US industrial production rose again by 0.4% in March (as in February), with a 3.1% jump in automobile production, and the industrial capacity utilization rate increased by 0.2 points to 78.4%.
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