Small changes at the end of a successful week at Wall Street

The Friday session at Wall Street ended with slight changes in the main indexes, which at the beginning of the day recorded the historical peaks of quotations. Investors carried out some of the profits after a successful week.

Dow Jones Industrial at the closure increased by 0.08 percent. and amounted to 44,946.12 points

S&P 500 at the end of the day fell by 0.29 percent and amounted to 6,449.80 points

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Nasdaq Composite lowered by 0.40 percent Up to 21,622.98 points

The index of companies with medium capitalization Russell 2000 drops by 0.52 percent. up to 2,287.07 points

The VIX index grows by 2.23 percent, to 15.17 points

Investors' moods have a negative impact on the decrease in stock prices of chip manufacturers and poor data on consumer moods.

The Michigan's consumer mood index fell in August to 58.6 of 61.7 in the previous month due to concerns about inflation.

However, the main average remained a solid level throughout the week. The DOW Jones index gained 2 percent S&P 500 and Nasdaq gained about 1 percent From the beginning of the week, thanks to the new data about consumer inflation, which aroused hopes for a reduction in interest rates by a federal reserve next month.

“FED boom for artificial intelligence and required interest rates by the FED support the market, so we do not think that the S&P 500 correction will take place, despite the terrible seasonality of August and September,” said Jay Hatfield, general director and investment director in Infrastructure Capital Advisors.

“In fact, we are still growing,” he added.

The July detail data, published on Friday, outlined a good picture of American consumers. Retail sales increased last month by 0.5 percent, meeting the expectations of the DOW Jones index.

Retail sales, excluding cars, increased by 0.3 percent, which also coincides with the estimates of analysts.

Barclays analysts maintain a positive attitude towards the financial sector, claiming that interest rate reductions will not be an obstacle to the sector next year.

“When it comes to concerns about reducing interest rates in the financial sector: the history of cyclical interest rates by the Fed since 1990 suggests that falling interest rates are not an obstacle to the sector, unless the central bank limits the recession. Profits and valuations are favorable;

The strategist added that favorable factors such as potential deregulation as well as mergers and acquisitions are still possible.

On the oil market, contracts for WTI in September reduce by 1.33 percent. up to USD 63.11 per barrel, and October Futures on Brent Futures fall by 1.06 percent. up to 66.13 USD/B. (PAP Biznes)

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