Wall Street It closed this Friday in green after slightly lowering the price of oil, but recorded accumulated losses amid concerns about persistent inflation in the United States and increased expectations of an increase in interest rates.
At the close of today, the Dow Jones Industrials rose 0.98%, up to 52,573 points; the selective S&P 500 it advanced 0.86%, up to 7,656 integers; and the technological Nasdaq It gained 0.96%, up to 26,333 units.
In the stock market week, which has been shorter because Monday was the Labor Day holiday in the US, the Dow lost 1.6%, the S&P 500 0.8% and the Nasdaq 0.7%, according to CNBC.
The market has been watching Texas Intermediate Oil (WTI), which reached its highest price in three months on Thursday due to fears that the US war against Iran will last longer than expected, but today it moderated to $100.
Meanwhile, the average price of diesel in the country reached $6 per gallon for the first time, an increase of 63% compared to last year. The US Consumer Price Index (CPI) remained at 3.4% in August after reducing the previous two months, influenced by the rebound in fuel prices derived from the escalation between the US and Iran and the blockade of the Strait of Hormuz.
The year-on-year inflation figure is above the Federal Reserve’s (Fed) 2% target, so the market has increasing expectations that the central bank will dictate a rate hike at its meeting next week.
The FedWatch tool gives an 85% probability that the Fed will dictate a quarter-point hike. The yields of public debt reacted with increases to these expectations, and those of the two-year title, more sensitive to monetary policy, stood at 4.628%, the highest since July 2024.
Previously, the US Government reported a creation of 162,000 jobs in August, more than expected, while the unemployment rate remained at 4.1%, generating fear of the economy overheating.
Separately, the U.S. on Tuesday imposed tariffs on Canada, some as high as 50%, on imports worth about $20 billion.
During today’s session, most sectors operated in green, led by communications, non-essential goods and technology, which rose more than 1.1%, but for the week as a whole there were no clear winners.
In other markets, gold fell to $4,391 an ounce, the dollar strengthened against the euro, which was trading at $1,159, and bitcoin rose to $77,300.
