Wall Street edges higher, ASX set to dip; Australian dollar jumps
In Wall Street, Oracle’s 4 percent increase was one of the most powerful forces that lifted the S&P 500. CEO Sofra Catz said that the technology giant is a “strong start ve and has already signed a multiple large cloud service agreement that can contribute over 30 billion dollars.
GMS’s stock, special building products supplier, an agreement that will pay US $ 110.00 per share per share, said that it agreed to sell itself to a home depot side organization 11.7 percent. This will give a total value of 5.5 billion dollars, including the debt.
Less than two weeks ago, QXO, another company, said he offered to buy GMS for US $ 95.20 per share. After the announcement of the Home Depot offer, QXO’s shares increased by 3.9 percent and Home Depot fell 0.6 percent.
Hewlett Packard Enterprise was collected at 11.1 percent, and juniper networks increased by 8.4 percent after saying that they had reached an agreement that could pave the way for the US Department of Justice subject to the approval of the court. HPE is trying to buy Juniper with a $ 14 billion agreement.
Federal Reserve said on Friday, after saying that they were financially strong enough to escape a decline in the economy, the bank stocks were also intact. JPMorgan Chase increased by 1 percent and Citigroup won 0.9 percent.
They all raised the 31.88 points of the S&P 500 to 6.204.95. Dow Jones Industrial added an average of 275.50 to 44.094.77 and won Nasdaq Composite 96.27 to 20.369.73.
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In the bond market, the Treasury returns fell in front of several major economic reports later in the week. The emphasis will be a job report on Thursday. It is usually the most anticipated economic data of each month and will come on Friday the day before the four July holiday.
The labor market has remained relatively constant even in the face of tariffs, but recruitment has slowed down. Economists expect the data on Thursday to show another step in the general recruitment by falling from 115,000 work in May from 139,000 in May.
Such data helped Federal Reserve to wait this year when it comes to interest rates. FED President Jerome Powell repeatedly said that he expects more data to show how the tariffs will affect the economy and inflation before continuing interest rates. This is because lower rates can increase inflation further and provide an increase in the economy.
Meanwhile, Trump is forcing them for more deductions and soon to take place. Two people appointed to the Fed said that the Fed’s next meeting could take into account the cutting rates in less than a month.
The return of 10 -year Treasury fell from 4.29 percent to 4.23 percent late on Friday.
In the stock exchanges abroad, the indices fell to Europe in a modest way after a more complicated finish in Asia.
Stocks in Hong Kong fell 0.9 percent, but China’s factory activity increased by 0.6 percent in Shanghai after accepting that the factory activity has improved in June after Beijing and Washington applied higher tariffs to each other’s exports in June.
AP
