- Wall Street opens the session without a clear direction - US500 contracts loses 0,1%
- Claims lower than forecast, Philadelphia Fed up sharply
- WalMart (WMT.US) unable to sustain growth after results, stock loses 1.2%
- Palantir (PLTR.US) posts 4% declines amid divergent 2020 earnings news
- Ball Corp (BALL.US) trades up in light of its deal with BAE Systems (BA.UK)
- Chesapeake Corp (CHK.US) leads gains in oil companies - the company will replace Mercury Systems in the S&P MidCap 400
- Adobe Systems (ADBE.US) shares lose despite BofA optimism
Today's US session brings another weaker day for the bulls, with gains mostly from oil and commodity companies, which were supported by a rebound in China's indices. Faced with the prospect of further tightening by the Fed, Wall Street is beginning to see 'risk' on the side of still strong macro readings, which may encourage the Fed to 'tighten the screw' on monetary policy. Yesterday's Fed minutes although they did not contain anything the market could not expect emphasized that the Federal Reserve may 'experiment' with further hikes in the face of a still strong US economy and labor market. Today's macro data surprised markets slightly. The reflection that comes from yesterday's 'minutes' - if the Fed decides to hike it will probably do so in September, 'as long as the data is strong.
US, Unemployment claims:
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app- Reading: 239k. Forecasts: 240k; Previously: 248k
- Continuing claims: 1.716 million Forecasts: 1.7 million Previously: 1.684 million
US, Philadelphia Fed regional index for August:
- Reading: 12 Forecasts -10; Previous: -13.5
U.S. companies categorized by sector and industry. Size indicates market capitalization. Above-average oil market stocks did well today, supported by a rebound in indexes in China. Source: xStation5
The US500 index is losing slightly at the beginning of the session Source: xStation5
Fed minutes didn't change expectations for Fed decision at September meeting, Wall Street sees only 13% chance of 25bp hike Source: CME
News
- Ball Corp. (BALL.US) gains as U.K. defense giant BAE Systems expressed a desire to buy the aerospace aluminum packaging unit for nearly 5.6 billion
- Chegg (CHGG.US) shares gain as the board approved an additional $200 million for a share buyback program
- CVS Health Corp (CVS.US) shares lose after the Wall Street Journal reported that Blue Shield of California is dropping Caremark, a services company affiliated with CVS
- Shares of Adobe Systems (ADBE.US) received no upswing today although Bank of America Global Research raised its recommendation for the company from neutral to buy, pointing to it as a growing global AI leader. Shares are slipping around the SMA50 (yellow line).
Source: xStation5
