Wall Street tries to erase losses in anticipation of inflation in the United States

The major indices of the New York Stock Exchange started the session on Wednesday –Before the release of inflation data in the United States for the month of September– In the negative. Last month, producer prices rose more than expected.

But after it started the day down around 0.3%, The Dow, S&P 500 and Nasdaq all turned higher, Encouraged by the publication of results and the improvement of PepsiCo’s expectations.

Exactly, the rise in the Dow Jones was 0.24% and the index settled at 29,306.5 points. The S&P 500 rose 0.28% to 3,598.75 points and the Nasdaq rose 0.37% to 10,466.64 points.

US Producer Price Index (PPI) rebounded 0.4% last monthThe Labor Department reported on Wednesday. August data was revised to show a decrease of 0.2% instead of the previously announced 0.1%.

In the twelve months through September, the producer price index rose 8.5% after advancing 8.7% in August. Economists expected a 0.2% increase and an 8.4% advance year-over-year.

[El mercado bajista en Wall Street no ha terminado]

Among the major increases in the Dow Jones Industrial Average, Coca-Cola stood out, up 2.66%. your competitor PepsiCo re-evaluated 3.67% after announcing its results Recorded in the first three quarters of the year.

In that period, it earned a profit of $8,392 million in the first nine months of the year, a 33% increase over the $6,296 million it made in the same period in 2021.

Federal Reserve Minutes

The food and beverage company’s cumulative sales between January and September were 58,396 million, up 8% year on year, the company announced, which also It improved its earnings outlook for the rest of the year.

The focus was on publishing Minutes of the last meeting of the Federal Open Market Committee of the US Federal Reserve (Federal Open Market Committee).

Although no surprises were expected, since the meeting took place, there have been countless public interventions by its various members, investors believe the documents will make it clear. The strategy that the US central bank intends to follow in terms of prices.

This is nothing but setting benchmark interest rates at restrictive levels for the economy, perhaps close to 4.5%, and keeping them at that level until inflation shows unmistakable signs that it is moderating and heading towards the 2% target.

[La Fed sube los tipos 75 puntos básicos y prevé llevarlos por encima del 4% antes de 2023]

“There are fewer and fewer analysts who believe the Fed will be able to achieve a ‘soft landing’ for the US economy and more and more who see it heading into a new recession in the middle of next year. Analysts at Link Securities.

According to data from Refinitive, Investors give a 92% chance that the institution will raise interest rates again by 75 basis points at their meeting in November.

Several Fed members will take the floor on Wednesday, such as Minneapolis Fed President Neil Kashkari; Washington’s deputy chief of oversight Michael Barr or New York Gov. Michael Bowman.

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