(News Bulletin 247) – Wall Street ended the week on an undecided note: during Friday’s session, the Dow Jones rose 0.3% to 35,281 points, but the S&P500 lost 0.1% to 4,464 points and the Nasdaq Composite fell 0.7% to 13,645 points.
The trend was weighed down by the persistence of a selling trend in the bond market, despite the publication of new indicators confirming the scenario of a continuation of the disinflation movement in the United States.
According to the Labor Department, US producer prices rose only 0.3% in July, while their increase excluding food, energy and commercial services reached only 0.2%.
The yield on 10-year US Treasury bonds, whose sudden surge had already penalized risky assets last week, rose to 4.16% following the publication of these figures, not far from 15-year highs.
‘Bond yield expectations should be at higher levels given the resilience of the economy, which suggests that monetary policy could prove to be more restrictive than expected,’ warned one at Barclays.
On the statistical front, the morale of American households deteriorated in August, according to the confidence index of the University of Michigan which fell to 71.2 in the first estimate, against 71.6 last month. , and while it was expected to rise.
In securities news, News Corp climbed 4.7% the day after the parent company of the financial press group Dow Jones and the publishing house HarperCollins published its results for the last quarter of 2022. -23.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.