(Il Sole 24 Ore Radiocor) – New York, September 13 – The session continues to rise on Wall Street, with the S&P 500 heading for its fifth consecutive rise and all the indexes with a positive weekly result. After the latest data on the state of the economy and inflation, according to the FedWatch Tool of the Cme Group, there is a 47% chance – up from 28% yesterday – that the Federal Reserve, at the meeting on September 17-18, will decide to cut interest rates by 50 basis points; the remaining 53% is for a cut of 25 basis points. On the stock market, Uber shares gain more than 5%, after the news that it will expand its partnership with Waymo, the Alphabet company that offers autonomous driving services; Uber will consequently offer the robotaxi service in Austin, Texas, and Atlanta starting next year.
Adobe shares fell 9% and are the worst performers on the S&P 500, despite earnings and revenues above expectations in the last quarter, due to revenue forecasts for the current quarter that were lower than analysts’ expectations. Moderna shares fell 3.1%, after JPMorgan lowered its rating; yesterday, the biotech company – which fell more than 12% – announced a plan to cut expenses by $1.1 billion by 2027; it also said it plans to launch 10 new products by 2027, a lower number than previously announced. Boeing’s stock fell 4%, the worst performer on the Dow Jones, after the first strike by factory workers since 2008. PDD Holdings, owner of the e-commerce platform Temu, lost 3.1%, on news that the US administration would like to change a trade law that currently allows the import into the United States of packages with a value of less than $800 without paying customs duties. This week, chip company stocks stood out, with Arm Holdings up 26%, Broadcom up 21%, Nvidia up 16%, Super Micro Computer up 19% and Advanced Micro Devices up 13%. Tech giants also performed well, with Amazon and Tesla gaining more than 9% and Microsoft up about 7%. Aside from technology, Warner Bros. Discovery and Constellation Energy had a very positive week, up more than 15% and 13% respectively. At this time, the Dow Jones is up 380.89 points (+0.93%), the S&P 500 adds 39.43 points (+0.70%), the Nasdaq is up 138.23 points (+0.79%). The indices are going towards a positive weekly result: Dj +2.3%, S&P +3.6%, Nasdaq +5.3%, at the moment. Wti oil at the Nymex falls 0.38% to 68.71 dollars per barrel. Gold gained 30.10 dollars, 1.18%, to 2,581.30 dollars per ounce, a new record, for a weekly increase of 3.52%.
Euro steady at $1,108. Bitcoin up 2.73% to $59,973.
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(RADIOCOR) 13-09-24 19:54:06 (0604) 5 NNNN