Wall Street: Major indexes in the red, but the Dow Jones finished higher for the sixth consecutive session

Luc Williams

The Dow Jones Industrial was up 0.44% at the close. and amounted to 39,056.39 points. The S&P 500 remained unchanged at the end of the day and amounted to 5,187.67 points. The Nasdaq Composite fell 0.18%. and closed the session at 16,032.76 points. The Russell 2000 index of small-cap companies fell 0.76%. and amounts to 2,005.14 points. The VIX volatility index falls by 1.4%, to 13 points.

“The market is becoming complacent”

“So far this week's events are more micro-driven than macro-driven: individual company earnings releases and things like that are driving sentiment,” said Samuel Zief, head of global currency strategy at JPMorgan Private Bank.

“We are entering the end of the earnings season and the market is becoming complacent. The economy is doing well, interest rate cuts are still being considered and the price of oil is falling. Unfortunately, this is not a stable equilibrium,” said Hugh Grieves, manager of the Premier Miton US Opportunities fund.

Minneapolis Fed President Neel Kashkari suggested that the US central bank may have to abandon interest rate cuts this year due to persistent inflation.

According to CME Group's Fedwatch tool, markets are currently pricing in 49%. chances that the US central bank will cut interest rates by 25 basis points in September, compared to 43 percent a week ago. They also value 36 percent. chances for another rate cut in December.

Data on increases and decreases

Reddit rose 4%. after the social media platform said it could report a profit in the second quarter, thanks to a booming advertising business and content licensing deals with artificial intelligence companies. Shopify fell 18.5%. The company forecasts a quarter-on-quarter decline in gross margin in Q2. Uber shares fell 6%. Loss per share in the first quarter was 32 cents compared to expected earnings per share of 22 cents.

Intel lost over 2%. after the chipmaker lowered its second-quarter revenue forecast. Tesla shares fell by 2 after Reuters reported that U.S. prosecutors were investigating whether the company committed fraud as part of an investigation into its automatic control systems. Lyft rose 7%. after the shipping company forecast higher-than-expected gross bookings and core profit for the current quarter.

On the oil market, WTI contracts for June increase by 1.07%. to USD 79.20 per barrel, and July Brent futures increase by 0.73%. up to USD 83.23/b.


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