Wall Street had ended without direction – Le Figaro

Wall Street has ended without direction Monday, after a meeting uncertain about the intentions of the Federal Reserve (Fed) and in a context of oil down: the Dow Jones lost 0.12% while Nasdaq took 0.12%.

According to final results, the index Dow Jones Industrial Average Featured yielded 23.15 points 18,529.42 points and the Nasdaq, dominated by technology, gained 6.22 point to 5244.60 points. The broader S & amp; P 500 lost 1.23 points, or 0.06%, to 2182.64 point
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“Friday, there will be the speech of Fed President Janet Yellen to Jackson Hole. Investors are focused on it and are reluctant to take positions in one direction or the other, because there may be some surprises “said Chris Low of FTN Financial.

Investors are hoping for this weekend, “a comment as possible giving the slightest indication of the deadline by which the central bankers could raise interest rates,” added analysts at Wells Fargo Bank in a note.

Monetary tightening would result in making the investment more attractive bonds and divert part of the investments in the equity markets.

Since first raising its rates in a decade late 2015, the Fed refrained from changing them again.

Speculation about the content of the speech Friday, the president of the Fed, Janet Yellen, have been revived by the statements of the Vice President of the Fed, Stanley Fischer, who said Sunday that the US economy “was close to the goals” the US central bank has set in terms of employment and inflation to raise interest rates.

“Fischer’s statements were very interesting, because I first read the title saying + Fischer defends monetary tightening before the end of the year +, but reading the content of his words carefully, he was much more cautious “said Chris Low decrypted.

“He will not vote against that Janet Yellen will decide,” also nuanced Greg Anderson BMO Private Bank also putting forward the importance of the speech of the president of the Fed.

“Until we see greater clarity on rates, the market will be influenced by oil prices. Crude prices fell due to technical reasons after too much shopping last week,” said Peter Cardillo Standard First Financial Company.

In the absence of major economic statistics and the end of the quarterly results season, the session was mainly marked by announcements of corporate takeovers.

The bond market progressed. Around 8:20 p.m. EDT, the yield on 10-year Treasury fell to 1.543% against 1.579% Friday night, and that good for 30 years at 2.237% against 2.286% previously.