Wednesday , August 17 2022

5 Things to Keep Track on Wall Street Wednesday With


© Reuters. 5 things you need to know about this Wednesday on Wall Street – Below you will find five reasons to consider today in the face of the opening of Wall Street:

1. Powell testifies today to the lower US Congress

Today, investors are again waiting for Federal Reserve Chairman Jerome Powell. And that is, it will speak to the Financial Services Committee of the House of Representatives (US Congress House), an intervention in which it is expected to clarify what the central bank's short-term intentions with regard to.

On the air, there is some nervousness waiting to give some insight into the next steps the central bank will take on its next meeting on July 31st.

2. Markets that await the above

World markets trade with many shy movements waiting to hear Powell's speech.

On Wall Street, the pre-opening of the points begins to fall at the beginning of the session. At the same time, indices in Asia closed mixed, while in Europe we found small losses. In the currency market the dollar trades against its main competitors.

3. Oracle (NYSE 🙂 may defeat Amazon (NASDAQ 🙂 in defense contract defense

Amazon may lose the "battle" against Microsoft (NASDAQ 🙂 in the race to build the first military "cloud of wars" in the US, a contract that can be estimated at $ 10,000 million, according to information from Associated Press While it is true that it has started as a favorite company, the latest information speaks of allegations by another candidate, Oracle, stating that the Pentagon unfairly favored the Amazon, which would reveal the thunderbolt box.

4. Raw prices positive in anticipation of inventory data

Prices rose by more than 1% this morning after the US Petroleum Institute reported inflated stock data (8,13 million barrels) in production for the week ending July 4.

Today investors are waiting for, which will be published at 4:30 pm In Spanish time.

5. Bank of Canada will wait; The Mexican Finance Minister resigned

Although Powell is the one who holds the lead today, we do not forget the economic titles of neighboring countries: Canada and Mexico.

So, while it is expected to keep its monetary policy unchanged and increase its growth forecast, unlike its counterparts in the United States, Australia or the euro area, on the southern border of the country, Carlos Ursua, a Mexican finance minister, has declared his resignation due to inconsistencies with the current president of the country, which led to further mitigation of the impact this decision might have.

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