(News Bulletin 247) – The major US equity indices ended in scattered order a session dominated by a mixed verdict from the Fed’s monetary policy committee: the Dow Jones fell 0.7% to 33,979 points, while the Nasdaq Composite advanced 0.4% to 13,626 points.
“The Federal Reserve announced it was suspending interest rate hikes in June, but indicated potential increases in the coming months as it assesses more economic data,” Wells Fargo summed up on Wednesday evening.
This position of the US central bank was on the whole rather expected by observers, since according to the CME Group’s FedWatch barometer, the estimated probability of a rate hike next month fluctuated around 62%.
The scenario of continued disinflation was however confirmed by the announcement, early in the morning, of a slowdown in the rise in producer prices in the United States to 1.1% at an annual rate in May, at compare to 2.3% the previous month.
Other data from the session, crude oil inventories in the United States climbed 7.9 million barrels last week from the previous week, while gasoline reserves rose by 2.1 million barrels.
In terms of values, we note the stability of Alphabet despite the threat brandished by the European Commission to force its subsidiary Google to separate from some of its online advertising activities, accusing it of abusing its dominant position. .
It should also be noted that stocks linked to artificial intelligence such as Nvidia (+4.8%) and AMD (+2.2%) remained well oriented, with some analysts believing that the tech sector is only at the beginning of a period comparable to the 1990s.
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