After closing yesterday Thursday with slight gains, Wall Street is pointing to an upward opening looking at the futures of its main indices. Thus, the DOW JONES futures added 0.15%, while the S&P 500 futures rose 0.29% and the NASDAQ 100 futures advanced 0.45%, while they await the publication of the data from the PCE, the Federal Reserve’s favorite inflation measure and which, therefore, further conditions their decisions in monetary policy. “In principle, the forecasts are that both its annual growth rate and that of its underlying have moderated in May and both stand at 2.6%, something that, if confirmed, would be well received by the bond markets. and stocks, since it could consolidate market forecasts that the Fed will lower its interest rates up to two times this year, something that the members of its Federal Open Market Committee (FOMC) are not so clear about,” says Iñigo Isardo Rey , from Link Securities.
On the other hand, investors are betting on light sales today after digesting the rough patch last night’s debate between Joe Biden and Donald Trumpwhich was his first face-to-face meeting before the November elections. A face-to-face meeting that has left the current US president ‘touched’ by doubts about his “aptitudes”, as he appeared hesitant, confused, with awkward pauses or sentences that did not connect with each other. Biden’s hoarse voice has also been the subject of analysis, although he himself has commented that he had a “sore throat” due to a cold.
Following the event, media outlets suggested that Democrats were increasingly concerned about Biden’s ability to run a successful campaign ahead of November’s presidential election.
In the business section, the results of Q4 2024 (fiscal year) and the prospects of weak demand that will continue to slow down penalize Nike this Friday, which plummets 14% in the pre-opening. The company has noted that revenue is expected to decline 10% this quarter. Sales this fiscal year are also expected to decline by a single-figure percentage. Meanwhile, in the fourth quarter, net income fell 17% to $12.61 billion, below Wall Street expectations of $12.84 billion, according to LSEG data cited by Reuters.
On the other hand, the chaina of pharmacies Walgreens Boots planea to close a significant portion of its roughly 8,600 stores and reduce its stake in primary care provider VillageMD.
Oil faces big monthly gains
In commodity markets, oil futures rose on Friday and were firmly on track for a third consecutive weekly rise, boosted by growing expectations that the US Fed will soon begin cutting interest rates, as well as fears over supply disruptions in Russia and the Middle East, which have largely offset concerns about slowing demand.
This Friday, oil Brenta reference in Europe, rose 0.75% to $85.90 per barrel, while crude oil futures West Texas US crude oil prices are up 0.66% at $82.28. Brent and West Texas crude futures have gained nearly 2% so far this week, with both benchmark crudes on track to record a 0.66% gain. gains of around 6% in June.
The gold prices They rise slightly this Friday, preparing for a third consecutive quarterly rise, while investors await US inflation data due this afternoon for more clarity on the Federal Reserve’s interest rate cut schedule. Spot gold rose 0.12% to $2,330.45 an ounce. Prices have risen around 4% in the quarter.
The Euro Dollar is trading at the black market and the euro is up 0.05% against the dollar, leaving the exchange rate at 1.0707 dollars for each single currency.
In fixed income, the US bond at 10 years it offers a return of 4.312%.
Finally, in the cryptocurrency market, Bitcoin adds 0.35% and is trading at $61,316.
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