US stock markets ended Friday higher, reacting positively to the speech by Fed Chairman Jerome Powell. The Dow Jones Industrial Average rose 1.14%, the S&P 500 rose 1.15%, and the Nasdaq Composite rose 1.47%. Powell announced the Fed's readiness to lower interest rates, but the timing and pace of this process will depend on a number of factors. He noted a decrease in inflation risks and an increase in employment risks, stressing that the economy continues to grow. Traders estimate the probability of a rate cut in September by 25 basis points at 70%, and by 50 bp at 30%. Positive news also came from the real estate market: sales of new homes in the United States increased by 10.6% in July and amounted to 739 thousand year-on-year. In the equity sector, Altria Group rose 1.2% after the dividend increase, and Intuit Inc. shares fell 6.8% after the publication of a net loss report. Workday Inc., a provider of cloud applications, increased its net profit by 1.7 times, which led to a 13% increase in capitalization. Uber Technologies rose 1.4% after announcing the launch of robotaxi in partnership with Cruise LLC. General Motors shares rose 4.5% due to the same partnership.
RYCHLÉ ODKAZY
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