Home Depot leads Dow higher while Wall Street is stable in summer lull

The S&P 500 slipped 0.2%, one day after barely moving, and remains near its top set of all time last week. The industrial average of Dow Jones increased by 68 points, or 0.2%, to 9 h 35, east time, and the NASDAQ composite was down 0.4%.

Home Depot increased by 3.1% to lead the DOW higher after reporting the last quarter results which were a bit waiting for what analysts expected.

The retailer said that the owners have focused on smaller and less expensive home repairs while postponing larger projects due to high interest rate and continuous concerns about inflation. But he kept his previous forecasts on income and profits during the full year.

Other large retailers will provide their latest profit updates in the coming days. Lowe’s and Target are on the bridge for Wednesday, while Walmart and Ross stores will report on Thursday.

However, the headliner probably of the week will not arrive before Friday, which could continue to exchange relatively silent Wall Street until then. It was at this time that the president of the federal reserve, Jerome Powell, will give a long -awaited speech to Jackson Hole, Wyoming. The decor was the home of FED political advertisements in the past, and hope to Wall Street is that Powell could give an index that interest rate reductions will soon come.

The Fed has maintained its stable main interest rate this year, mainly due to the fear of the possibility that President Donald Trump’s prices can increase inflation. But an surprisingly low report on employment growth across the country and is worried about the American economy can be replaced.

Wall Street merchants are greatly expecting the Fed to reduce interest rates at its next meeting in September. Treasury yields fell into the bond market, and they remained lower on Tuesday.

The yield on the 10 -year treasure dropped to 4.31% against 4.34% Monday evening.

Bank of America’s strategists warn that Powell may not seem as inclined to reduce interest rates as the market. It could remain without obligation and discuss the possibility of a worst scenario for the economy called “stagflation”. The Fed does not have a good tool to repair this situation, where the economy stagnates at the same time as inflation remains high.

In Wall Street, Palo Alto networks increased 6.5% after reporting profits and income for the last quarter that exceeded analysts’ expectations. The cybersecurity company also gave profit and income forecasts during its next exercise which were above Wall Street.

Tegna increased by 4.8% after Nexstar Media Group said it would buy the owner of 64 television stations across the country for $ 22 per share in cash, giving the agreement a total value of $ 6.2 billion, including debt. Nexstar, which holds CW and local television broadcasters, added 7.2%.

Companies have said that the combination will give them a wider scope and allow them to better compete with large technologies and the inherited media.

Viking Therapeutics dropped 39.7% after the biopharmaceutical company published the results of a clinical trial of its oral tablet, which could treat obesity and other metabolic disorders.

In stock markets abroad, the indices increased in Europe after falling modestly in Asia.

Tokyo’s Nikkei 225 index slipped 0.4% while the heavy market SoftBank Group Corp. fell 4% after announced that he has taken a 2 billion dollar stake in the Intel American flea manufacturer.

Intel, which recently climbed information that the Trump administration could participate in the company, climbed 7.5%.

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Commercial editors AP Matt Ott and Elaine Kurtenbach contributed.