The Fed does not heat up Wall Street closed weaker after Yellen – Il Sole 24 Ore

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This article was published September 17, 2015 at 17:40.
The last change is the 17 September 2015 at 22:11.

Wall Street in the swing after the Fed’s decision to not touch interest rates and after the press conference President Janet Yellen. After an initial weakness following the announcement of rates, price lists Americans first found momentum (see indexes), then they came back negative. The Dow Jones closed losing 0.38% to 16,675.54 points, the Nasdaq rose 0.10% to 4,893.95 points while the S & amp; P 500 sold 0.3% to 1,990 points. The Fed said to monitor the international situation but Yellen hinted that the first rate hike for almost ten years should take place later this year, that is, at the October meeting or the one in December.

Squares on the European, in the aftermath of a very positive session, prevailed caution pending the decision of the Federal Reserve came in the evening. Later in the day the indices fluctuated on the wire of equal (hence the performance of the main European equity baskets). At the end on the Milan Stock the Dow finished at + 0.18%. Among the titles of Milan with the highest capitalization it was highlighted Autogrill rose by 4.91% due to the positive indications of the vertices on the performance of the Italian market. Chiaroscuro banks, good BPM (+ 1.5%) and Banco Popolare (+ 1.2%), while the worst was Bper (-2%), a day after the CEO. Alessandro Vandelli has cooled speculation of any extraordinary transactions coming, postponing everything to 2,016 well-forwarded.

Oscillations related also to the itoli State whose returns, after the falls of recent weeks, showed contrasting trends (hence the rate of the leading European government bonds). The euro-dollar (here the graph of the day of change) remains above the threshold of $ 1.13. Oil retraces slightly after yesterday’s rally.

Meanwhile, the continued recovery of emerging markets. The MSCI emerging index touched today up to a month now. The riafflusso capital did take ground even in several emerging currencies that over the summer months had retraced heavily to the conjunction of strong dollar (ahead of the Fed rate hike), braking Chinese and depreciation of raw materials.

The decisions of the Federal Reserve’s rate will reach the 20 Italian along with new economic estimates of the US central bank. Half an hour later the governor Janet Yellen will hold a press conference by breaking a silence that lasted for two months. In July, he said that one should not make too much of an initial rate hike, which otherwise “would report the progress made by the economy recover from the trauma of the financial crisis.”

Meanwhile, stockbrokers remain divided on what will happen (rise in the cost of money or status quo) but most seem to think the same way on one aspect: the communication from the Fed, supposedly the highlight of Yellen, has been badly managed. From the macroeconomic front, new applications for unemployment benefits fell slightly to 264,000 while the share of new start construction in August fell more than estimates but permits for construction, which anticipate future activity in the construction sector.

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