This Tuesday, Wall Street closed in mixed territory with its main indicator, the Dow Jones Industrial Average, dropping a slight 0.02%. At the end of trading, the Dow Jones stood at 42,924 points, while the S&P declined 0.05% to 5,851 units, and the Nasdaq index rose 0.18% to 18,573 points.
According to analysts, investors showed caution in anticipation that the Federal Reserve would be less aggressive in future interest rate cuts, following the change in cycle in September where it was reduced by half a point. The CME's FedWatch tool indicates that it is considered more likely that in November the central bank will implement a quarter-point cut instead of a half-point, which was also reflected in the increase in the yield of 10-year Treasury bonds, reaching 4.2%.
In the corporate sector, attention remains focused on quarterly results, highlighting the increase in annual forecasts of tobacco company Philip Morris, which experienced a rise of 10.5%, as well as General Motors with an increase of 9.8%. On the other hand, Lockheed Martin fell 6.1% for not meeting sales expectations, and Verizon dropped 5% for the same reason.
In other economic news, the International Monetary Fund (IMF) again improved its GDP growth projections for the U.S., estimating a 2.8% advance by the end of the year. In the Dow Jones, the biggest losses were for Verizon (-5%) and 3M (-2.3%), while the largest gains were for Microsoft (2%) and Walmart (1.5%).
On the other hand, in electronic trading, McDonald's experienced a drop of more than 9% after reports of an E.coli outbreak linked to one of its burgers, which has resulted in one death and ten hospitalizations. In terms of other markets, Texas crude returned to $72 per barrel, gold rose to $2,762 an ounce, and the euro was quoted at $1.079.
