2025-08-19 22:08
publication
2025-08-19 22:08
It was a somewhat strange session on New York stock exchanges. Clearly cheaper actions of large technology companies were accompanied by greenery in “traditional” market sectors, thanks to which Dow Jones slightly improved the intra -session record of all time.
Although finally the industrial average of Dow Jones gained barely 0.02%, during the Tuesday session a new record was broken: 45 206.94 points. It happened at the beginning of trade, but then the ceiling was not over 45,000 points. Anyway, the record itself only slightly pierced the earlier July-August Maksima.
The shares of large technology companies were cheap. The NVDII rate dropped by almost 3.5%, Broadcom by 3.8%, finishing by 2.2%, while AMD by as much as 5.6%. An even deeper discount (09.4%) have experienced the values of the extremely fashionable palntir this year. As a result, Nasdaq Composite finished Tuesday trade 1.46% under the line, at 21 314.95 points. The S&PC index was also on the downside, which after losing 0.59% was at an altitude of 6,411.37 points.
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– The artificial intelligence market may not break down, but is trying to catch his breath. After over 40 percent The growth of Nasdaq since April, historically, the break is something normal, because the market adapts to the latest economic data and the expected Fed policy – said Jayson Bronchetti, director of investment at Lincoln Financial.
For investors from Wall Street, the most important thing is now what Jerome Powell says on Friday. The speech of the head of the federal reserve is planned at the beginning of the annual sycopzium of central bankers in Jackson Hole. The market is convinced that the chairman of Powell will signal the September reduction in federal funds.
Term market at 87% values the chances of a 25-point cut. Some even speculate about the repetition of last year, when the Fed decided to reduce the feet by 50 pb., Which was the beginning of a short cycle of reductions (so far stopped in December '24). The possible lack of September cut was a very big disappointment and could lead to a juicy correction on Wall Street.
And the chances of such disappointment seem not so small. It is true that the data from the labor market clearly weakened, but inflation is again gaining vigor. The Cleveland Fed model indicates that the August CPI inflation in the United States accelerated to 0.3% MDM and 2.84% RDR, with an annual CPI base dynamics of 3.05%. It would be a higher result than in July and more and more of the federal reserve.
– It looks like we are a little protected against Jackson Hole. I think Powell may be a bit more hawk than the market currently expects – said Reuters James Cox from the Harris Financial Group.
It is worth noting, however, that most analysts and fund managers are currently more skeptical than the market. In the latest Reuters survey, the average value of the S & P500 index forecasted by experts at the end of2025 was 6,300 points. This is 1.7% below the current level and a signal of lack of faith in the continuation of the bull market in the fourth quarter.
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