Wall Street closes with a double record, pending inflation and the Fed meeting

Wall Street closed this Monday with records in the S&P 500 and Nasdaq indices awaiting new data on inflation and the monetary policy decision of the US Federal Reserve (Fed) next Wednesday.

The S&P 500 rose 0.26% to 5,360 points, and the Nasdaq rose 0.35% to 17,192 points, both at record highs, while the Dow Jones rose 0.18% to 38,868 points.

The market began the day with doubts after last week’s accumulated gains, but in the end it leaned towards purchases, especially in the technology companies Microsoft (0.95%) and Nvidia (0.75%), the two largest listed companies. of the world.

Apple, number three, fell 1.91% after presenting at its annual developers conference WWDC its own free artificial intelligence (AI) for its products, which will be called ‘Apple Intelligence’, and an alliance with OpenAI.

Wednesday will be a key day: The consumer price index for May is published and the two-day Fed meeting also concludes with a decision on interest rates, although no changes are expected, and with a speech by its president, Jerome Powell.

The labor market remains resilient despite the high rate environment, according to data released last week, which is why the market has been postponing its expectations of a rate cut, which at the beginning of the year seemed imminent.

According to the FedWatch tool, The first rate cut is now more likely to occur in November than in September (there is no meeting in October).

In other markets, the monetary outlook also guided the session: Texas oil rose 2.9% today, to $77.74 a barrel, the yield on the 10-year Treasury bond was close to 4.47%, gold rose at 2,326 dollars per ounce and the dollar appreciated against the euro, with an exchange rate of 1.07.