Wall Street, which continues a summer of record, will try to reach new record levels next week but it will need the support of a particularly uncertain oil market and good signs internationally.
in the last five sessions, the index Featured Dow Jones Industrial Average took 0.18% to 18,576.47 points and the Nasdaq, dominated by technology, 0.23% to 5232.89 points level never seen. The broader S & amp; P 500 advanced 0.05% to 2184.05 point
“This week has been disappointing in terms of economic data,” including a poor figure on sales. detail, “and yet the stock market did well out … That’s encouraging,” summed Tom Cahill, Ventura Wealth Management.
highlight of the week, the three major indexes simultaneously broke Thursday closing records, which had not happened to them since 31 December 1999.
a symbol of the optimism that moved to Wall Street analysts on average expect now a Dow Jones at 20,000 points within a year, according to data compiled by Howard Silverblatt, analyst house S & amp; P Dow Jones Indices, the statistics refer to the US markets
After a beginning of. was rich in economic news this week was quieter “marked by two engines,” summarized Michael James of Wedbush Securities. “One is oil and other distribution.”
As regards distribution, several figures of the sector, such as Macy’s, Kohl’s and Nordstrom, saw increases of some 10% in one day after less catastrophic than expected results, as they had many worried the previous quarter.
as for the oil market, after much hesitation from one session to the another, he managed to sign a weekly rise, investors pretend for now bet on a future market equilibrium for an extraordinary meeting of the Organization of petroleum exporting countries (OPEC) in September.
“for their instability, oil prices will continue to largely lead the general sense, including the stock market,” warned James
-. the Fed still scrutinized –
Although some quarterly corporate results are still expected in the US, as the specialist DIY and land Home Depot on Tuesday as well as statistics on inflation and the real estate is especially the international situation that may affect the New York Stock Exchange.
“it’s true that we must focus on the rest of the world, because the stock market will now struggle to go forward if the international growth does not improve, “admitted Mr. Cahill
However, he retained an element to monitor in particular the United States. publication Wednesday report the last monetary policy meeting of the Federal Reserve (Fed), dating back to late July.
“This could become more important than usual,” warned Mr. Cahill. “As it happens not much else, investors are very attentive to the Fed.”
As from the beginning of the year, the US central bank had refrained the last month to toughen its policy by raising interest rates, and details of its deliberations could give clues about his intentions at its next meeting in September.
after the previous meeting ” Fed issued a wait statement, but the report should be more balanced, “advanced experts Deutsche Bank. “In addition, it could clarify the expectations of investors on the speech held (Janet) Yellen, the president, to Jackson Hole.”
The great central bankers held at the end of their annual symposium in this town in the state of Wyoming, in the context of questions about the effectiveness of monetary policies in all very interventionist worldwide.
on this issue as on others, such oil, “uncertainty is the mother of instability” in the words of James. “And that’s what we saw this week, in both directions.”
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