Wall Street is on the rise with corporate results in focus

Wall Street indexes are on an upward trajectory on Wednesday, with investors, in the absence of significant financial data, focusing today on the new “batch” of quarterly corporate results, but always keeping their eyes on tomorrow’s inflation data.

In particular, on the board, the Dow Jones industrial average adds 272 points or 0.77% and moves to 35,734.94 points, the broader S&P 500 strengthens by 1.09% to 4,570.70 points, while the technological Nasdaq moves 1.13 % higher at 14,355.10 points.

An additional uptrend in the market today is provided by the decline in US bond yields, with US 10-year yields falling 3 basis points to 1.922%, from 1.954% on Tuesday, the highest level ever. level from 2019

“The improved market climate is due to increased optimism about the resumption of the economy, but the forthcoming more aggressive policy of the Fed and rising bond yields remain a serious threat to profits, as the key factors behind the “Recent sell-offs of bonds remain,” said Ipek Ozkardeskaya, senior analyst at Swissquote, in a note to customers.

“This means that there is a high risk of a sudden change in mood before the announcement of US inflation data on Thursday,” he added.

Meanwhile, the chairman of the Federal Reserve Bank of Atlanta, Raphael Bostic, told CNBC in an interview that he envisages three interest rate hikes of 0.25% this year, while he is “leaning” towards the possibility of a He added that the data will help the US Federal Reserve determine if more increases are needed and if these increases should be more pronounced, adding that he would like to see the Fed significantly reduce its balance sheet.

Investors are also waiting for quarterly results from some major companies such as The Walt Disney, GM Resort and Uber Technologies after the market closes today.