Wall Street remains cautious, despite the publication of the import price index demonstrating what emerged yesterday with the consumer price index, namely that, in August, US inflation did not rise beyond expectations. Indeed, the import price index fell, marking a decline of 0.3%, less than the estimated + 0.3% rise. This is the first time since October 2020 that import prices have fallen. Excluding the impact of fuel prices, the figure was down by 0.1%. Watch out for the rally in oil prices, however: WTI jumped 2.7% to $ 72.35, while Brent rose + 2.45% to $ 75.40. Natural gas futures continue to rally higher, rallying 6% to $ 5.565.
The Dow Jones remains under pressure, after dropping around 300 points yesterday, leaving 0.11% on the ground at 34,539 points. The S&P 500 was also weak, down 0.07% to 4,439, while the Nasdaq lost 0.16% to 15,017 points.
It should be noted that, yesterday, the Dow Jones, the S&P 500 and the Russell 2000 small cap index lost ground for the sixth of the last seven sessions, while the Nasdaq lost for the fifth consecutive session.
The September balance continues to be negative: the Dow Jones is down by more than 2%, while the S&P 500 has lost 1.8%.
However, the judgment of JP Morgan analysts remains one of optimism:
“Despite concerns about the recent slowdown in economic momentum, we remain confident in the strong growth ahead of us and that activity is set to pick up pace,” wrote JP Morgan Dubravko Lakos strategist. Bujas, in a note published Wednesday reported by CNBC, continuing:
“We remain positive on the equity outlook, and expect the S&P to hit 4,700 by the end of this year and cross the 5,000 point mark next year thanks to better-than-expected earnings.”
Among the stocks focus on Microsoft, up after the software giant announced a dividend hike and a $ 60 billion share buyback plan.
Buy on energy stocks, which continue to remain among the most popular bets among investors, who are betting on a solid economic recovery, and on higher energy prices due to increased demand. The prices of the oil giant Exxon are doing well, against the US futures on oil which on Nymex exceed the threshold of $ 71 a barrel.
Apple does not heat up in the aftermath of the Apple Event, with which the Cupertino giant presented the new iPhone models and other products.
On the other hand, the GreenSky stock is heating up a lot, after the news concerning Goldman Sachs’ decision to buy the fintech company buy now pay later (buy now, pay later), for a value of $ 2.24 billion. The payment will be all in shares. GreenSky stock soars by over 52%. Goldman Sachs drops 0.50%. The move confirms the US banking giant’s intention to expand into the consumer credit sector.