Wall Street ended its warm day in the green. 3M Expands 5% with Agreement to Stifle Litigation – Bolsa

Wall Street started the week on positive sentiment, with the session ending in the green, on a day of thin volume – typical of August – ahead of a week that will be bombarded with economic data.

The Dow Jones Industrial Average increased by 0.62%. 34,559.98 point, while the Standard & Poor’s 500 Index (S&P 500) rose 0.63% to 4,433.31 points. Trading volume compared to the global benchmark was 25% lower than the July average.

The Nasdaq Technology Index gained 0.84% 13,705.13 points.

3M shares rose 5.22%, after it was reported that the military materials company had reached an interim agreement to resolve a legal dispute over earplugs supplied to military personnel, allegedly defective, in exchange for a payment of $5.5 billion.

It seems that August is about to become the worst month of the year, under the pressure of the “hawkish” remarks made by the US Federal Reserve Chairman, Jerome Powell, during the Jackson Hole Symposium, in Kansas City, USA.

Powell stressed during the Jackson Hole seminar in Kansas City that the monetary authority is ready to “raise interest rates further.” if it is necessary”.

European Central Bank President Christine Lagarde also agreed with her North American counterpart’s restrictive note and stressed that the ECB remains committed to “keeping interest rates high”. Whatever it costs.”

Investors are now preparing for a barrage of macroeconomic data: employment and unemployment figures, wage growth, consumption and inflation from a consumer spending perspective, through the personal consumption expenditures index.

“This week is important because it has the opportunity to strengthen the pillars regarding a soft landing or not, and a slowdown in inflation,” Bloomberg quoted Tom Isaiye, a former “trader” at Merrill Lynch, as saying.

In the bond market, the “yields” of North American debt worsened, on the same day as the two- and five-year debt auctions in the United States. Investors demanded high interest rates for the operation, which was not seen before the 2008 financial crisis.