US stocks close higher, with Fed indicators and assessments on the radar

New York stock markets started the day with a negative tone, after indicators from China, but there was room for improvement in indices and a positive close.

Two worse-than-expected data from the United States were also published, but in monetary policy the expectation that the Federal Reserve (Fed, the US central bank) rate hike will be 50 basis points in September, not 75 basis points, and less aggressive monetary tightening tends to support stocks.

The Dow Jones index closed up 0.45% to 33,912.44 points, the S&P 500 rose 0.40% to 4,297.14 points and the Nasdaq rose 0.62% to 13,128.05 points.

China’s industrial production and retail sales grew less than forecast by analysts in July, reinforcing concerns about the country’s economy and the impact it will have on the world. In a cautious framework, the opening was negative on the New York stock exchanges.

In the United States, the confidence data of construction companies and also the industrial activity index of the Federal Reserve of New York saw worse than expected. Even so, in the stock markets there was room for improvement throughout the day. In monitoring by the CME Group, the chance increased on Monday that the next rate hike, on September 21, will be 50 basis points, not 75 basis points.

In the US stock market sectors, energy was the most penalized, with oil weakness, but several others rose, such as technology, communication services and industrial.

Among some key stocks, Apple rose 0.63%, Microsoft gained 0.53% and Alphabet gained 0.33%. Amazon, on the other hand, dropped 0.26% and, among oil companies, Chevron fell 1.90% and ExxonMobil had a drop of 1.79%.

Boeing rose 0.28%, while among banks Citigroup fell 0.57% and JPMorgan posted a gain of 0.27%. Disney, in turn, advanced 2.22%, after activist investor Dan Loeb bought a new stake in the company and defended changes in its management, including cost cuts, according to the agency. Dow Jones Newswires.