Wall Street up, with the S&P 500 index setting a new record. The index is preparing to end its best week since the beginning of April, up 2.6%.
The Dow Jones took a 3.2% weekly gain, the Nasdaq 2.6%.
At about 4 pm Italian time, the Dow Jones rose by 0.45% to 34,351 points; the S&P 500 advanced 0.21% to 4,275; the Nasdaq grows by 0.17% to 14,390 points.
Ten-year Treasury rates advance to 1.499%.
Watch out for new indications of US inflation, measured by the core component of the PCE index.
The figure, closely monitored by the Federal Reserve for its monetary policy decisions, rose by 0.5% on a monthly basis, less than the + 0.6% expected by the consensus.
On an annual basis, the index jumped by 3.4%, as expected, against the + 3.9% of the general PCE index, again on an annual basis (the general index includes the volatile components of the prices of energy and food).
The rise in the PCE core index on an annual basis, equal to + 3.4%, is the strongest in about 30 years, since the early 1990s. The jump in the general PCE index is also the most sustained since 2008 (+ 0.4% on a monthly basis).
The numbers relating to inflation emerged with the data relating to personal income and consumer spending.
Consumer spending remained unchanged on a monthly basis, making it worse than the expected + 0.4% increase. Income was negative, falling by 2%, less than the 2.5% decline estimated by the consensus.
On the political front, US President Joe Biden announced yesterday that the White House has reached an agreement with the bipartisan group of senators on an infrastructure plan worth approximately $ 1 trillion.
The plan includes new spending of $ 579 billion in favor of transportation, therefore for the construction and maintenance of roads, ports, railways, infrastructures for electric cars and for electric transit.
In this regard, the electric vehicle giant of Elon Musk, Tesla, is on the rise, which contributed on the eve of the rises in the US stock market with a rally of up to + 5%, and which today is making slight progress. Caterpillar is doing well too.
Microsoft stock, which this week, joined the Big Tech club with a capitalization of $ 2 trillion, of which only Apple is now part.
The market value was above the psychological threshold at the close of the market, in yesterday’s session, for the first time, after having crossed the same level the day before yesterday, Tuesday 22 June, during the intraday high.
It should be noted that Microsoft’s capitalization has doubled over the course of two years. More than $ 1 trillion is worth instead Alphabet, the holding company to which it belongs Google, Amazon, and the Saudi oil giant Saudi Aramco.
From the corporate front, watch out for Nike today: the stock soars by almost + 13.6%, after the US giant announced that it has concluded its fourth fiscal quarter with profits and turnover higher than expected.
Notably, revenue jumped 96% year-on-year to $ 12.3 billion, up from $ 11,033 expected by the consensus. Earnings per share on an adjusted basis stood at $ 93 cents, well above the expected $ 50 per share.