By Christmas Randewich and Ragini Mathur
(Reuters) – The New York Stock Exchange ended in order dispersed on Wednesday, the S&P 500 ending at a record level for the second day in a row carried in particular by the performance of Oracle.
The Dow Jones index sold 0.48%, or 220.42 points, to 45,490.92 points. The larger Standard & Poor’s 500 took 19.43 points, 0.30% to 6,532.04 points. The Nasdaq Composite advanced on its side of 6.57 points, or 0.03% to 21,886.06 points.
Oracle has recorded its highest daily increase in percentage since 1992, after the technology company reported a sharp increase in the demand of companies specializing in artificial intelligence (AI) for its “cloud” services.
Flea manufacturers like NVIDIA, Broadcom and Advanced Micro Devices have also progressed. The semiconductor sector has reached a record level.
Energy suppliers for data centers such as Constellation Energy, Vistra and Ge Vernova, have also advanced.
The Labor Department indicated that production prices (PPI) in the United States had taken against all expectations in August, by 0.1% over the month, while in annual rate, they deceived 2.6% after an increase of 3.1% in July. This statistic reinforces market anticipations on several decreases in the rates of the American Federal Reserve (Fed) by the end of the year.
On Tuesday, the Department of Labor revised down the job creations over 12 months to March, suggesting that employment growth in the United States was already at a standstill before President Donald Trump imposes new customs duties.
A slowdown in the economy and inflationary pressures hope to hope for a possible 50 point of the Fed rates next week, show the term contracts.
“The combination of less favorable data (PPI) with the increased importance given by the FED to the labor market and the growing tendency to revise the drop in employment data on employment – all this supports the hypothesis of a drop in rates”, Jordan Rizzuto, director of investments at Gammaroad Capital Partners.
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(with Purevi Agarwal; Camille Raynaud)
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