WALL STREET END UP
par Noel Randewich et Bansari Mayur Kamdar
(Archyde.com) – The New York Stock Exchange ended higher on Wednesday, buoyed by gains from Salesforce and Intuit as investors await the opening of the annual Federal Reserve (Fed) symposium in Jackson Hole.
The Dow Jones Industrial Average gained 0.18%, or 59.64 points, to 32,969.23 points.
The broader S&P-500 gained 12.04 points, or 0.29%, to 4,140.77 points.
The Nasdaq Composite advanced for its part by 50.23 points (0.41%) to 12,431.53 points.
Investors await Thursday’s opening of the Jackson Hole symposium, where Fed Chairman Jerome Powell is due to deliver a much-anticipated speech.
Investors hope to find signs on the trajectory of interest rates in a context of increased risk of economic deterioration in the United States.
“The market is waiting to see what announcements will be made on the important issues of inflation and Fed policy on interest rates,” said Tom Martin, portfolio manager at GLOBALT in Atlanta.
Traders are split on the likelihood of a 50 bps or 75 bps rate hike from the Fed in September.
In values, Intuit progressed after the publication of its quarterly results and having announced a forecast of annual turnover higher than the consensus.
Peloton Interactive jumped after announcing that it would offer its products on Amazon in order to boost sales.
Salesforce was also advancing ahead of its earnings release, expected after the Wall Street close.
Nordstrom was stepping back after lowering its annual forecast.
(With contributions from Devik Jain and Sruthi Shankar; French version Camille Raynaud)