US MARKET / Wall Street rebounded after encouraging economic data | News

NEW YORK (Dow Jones) – Wall Street continued to recover from a five-day drought on Friday. The day before, prices rebounded significantly from the daily lows in late business. Soothing words from Fed Governor Christopher Waller, who raised expectations for rate hike by 100 basis points by the US Federal Reserve continued to exert influence. His statements were supported by new inflation data. After the recent inflation data exceeded expectations, import prices fell below, which eased fears about interest rates somewhat. In the previous days, it was the price data about market expectations that scared investors.

The Dow Jones index gained 2.1 percent. The S&P 500 and Nasdaq Composite indices increased by 1.9%, respectively. and 1.8 percent On Nysa, the winners were a clear majority with 2,616 (Thursday: 860) titles, they had 619 (2,369) losses, while 117 (172) titles remained unchanged.

Economic data showed light and shadow, but the former prevailed. As retail sales in June increased much more than expected. Moreover, consumers were in better mood than forecast, although the expectations component was weak for the University of Michigan’s consumer sentiment. And in the New York City metropolitan area, the July Empire State Manufacturing Index showed that business activity was significantly better than predicted. Industrial production, which fell for the first time this year, was a disappointment.

“The risk of a recession has increased since the beginning of the year. If we don’t see signs of slowing consumption, it may not be as bad as investors fear, but if it does, it is evidence that the risk of a recession is materializing. ” market strategist Mike Bell of JP Morgan Asset Management warned. However, given the optimistic data on retail and consumer sentiment, investors ignored the warning.

The reporting period is gaining momentum

There were ups and downs in the company’s reports. Citigroup posted a positive sign, the rate jumped 13.3 percent. Provisions for impaired loans drove Citigroup’s profits down significantly in the second quarter. However, revenues increased significantly. Overall, Citigroup did better than analysts feared.

US Bancorp made less for the last quarter of the year – but more than analysts had predicted in consensus. Revenues were also higher than expected. As a result, the price increased by 5.4 percent. Competitor Wells Fargo disappointed as the US bank earned significantly less in the second quarter and fell short of expectations. Provisions for impaired loans also had a negative impact on Westkistenbank. However, these fell during the year and the price rose 6.2 percent. The banking sector led the list of winners with a plus of 5.8 percent.

Blackrock (+ 2.0%) earned less and traded less in the second quarter as equity markets plunged. The world’s largest wealth manager earned less per share than the market expected. The decline in revenues was also not in line with market forecasts. Titles have lost 36 percent this year.

Health insurer Unitedhealth (+ 5.4%) saw profits and revenues soared in the second quarter, beating market earnings forecasts on an adjusted basis. The group has also raised its earnings forecasts for this year.

A media report of investor Elliott Management’s entry into Pinterest pushed the share price up 16.2 percent. According to the Wall Street Journal, Elliott told an operator of online bulletin boards that it owns more than 9 percent of the ownership interest.

Oil prices are going back up

Oil prices have risen. According to reports, US President Joe Biden does not expect Saudi Arabia to increase its production to lower inflationary prices. But during his visit, he wants to negotiate the matter with the Saudis.

Recently, a very strong dollar rebounded slightly, the dollar index lost 0.5%. – but he was still close to his 20-year high. Import prices do not necessarily indicate a fast pace of monetary policy tightening by the Fed.

Despite strong equity markets, Treasury bonds have found buyers. Yields on the bond market returned. Observers noted lowered inflation expectations in the Uni-Michigan consumer survey.

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INDEX last + / -% absolute + / -% YTD

DJIA 31 288.26 + 2.1% 658.09 -13.9%

S&P 500 3,863.16 + 1.9% 72.78 -19.0%

Nasdaq Comp. 11,452.42 + 1.8% 201.24 -26.8%

Nasdaq-100 11 983.62 + 1.8% 215.23 -26.6%

US bonds

Term Profitability Bp to VT Profitability VT +/- Bp YTD

2 years 3.12 +0.5 3.12 239.0

5 years 3.04 -3.8 3.08 177.8

7 years 3.01 -3.8 3.05 157.4

10 years 2.92 -4.6 2.96 140.6

30 years old 3.08 -2.8 3.11 118.3

FOREX last +/-% Fri 8:08 Thu 17:34% YTD

EUR / USD 1.0081 + 0.6% 1.0026 1.0017 -11.3%

EUR / JPY 139.64 + 0.3% 139.08 139.14 + 6.7%

EUR / CHF 0.9847 -0.1% 0.9853 0.9856 -5.1%

EUR / GBP 0.8497 + 0.3% 0.8475 0.8484 + 1.1%

USD / JPY 138.51 -0.3% 138.88 138.93 + 20.3%

GBP / USD 1.1864 + 0.3% 1.1826 1.1805 -12.3%

USD / CNH (offshore) 6.7542 -0.2% 6.7759 6.7626 + 6.3%

Bitcoin

BTC / USD 21,079.22 + 3.1% 20 524.03 20,078.32 -54.4%

ROHOEL the last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 97.50 95.78 + 1.8% 1.72 + 35.1%

Brent / ICE 101.01 99.10 + 1.9% 1.91 + 34.8%

GAS VT close +/- EUR

Dutch TTF 160.80 174.50 -8.1% -14.23 + 33.7%

METALS last day before +/-% +/- USD% YTD

Gold (spot) 1,705.64 1,709.94 -0.3% -4.31 -6.8%

Silver (Spot) 18.67 18.41 + 1.4% +0.26 -19.9%

Platinum (Spot) 848.75 847.28 + 0.2% +1.47 -12.6%

Future Miedź 3.24 3.21 + 0.8% +0.03 -27.2%

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Contact the author: maerkte.de@dowjones.com

DJG / DJN / cln

(END) Dow Jones Newswires

July 15, 2022 4:11 PM ET (20:11 GMT)

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