Wall Street turns around after a rebound due to the good performance of Disney

After the market closes, disney announced its results and also confirmed the the dismissal of some 7,000 employeeswhich generates strong gains for the stock during the session.

The world’s largest entertainment company has also planned to cut costs by $5.5 billionwhich will allow him to pay the dividend again at the end of the year.

Other highlights, Hilton, Pepsi and Kellogg having published before the bell; And PayPal, Lyft and Expedia will do so after the close of the session.

JOB AND FEDERAL RESERVE DATA

Investors also took note of the weekly unemployment dataFollowing the strength demonstrated by the labor market American in January. Initial applications for unemployment benefits increased to 196,000in the week ending Feb. 3, down from 183,000 in the previous seven days, according to data released by the US Department of Labor. That figure is up from the 183,000 recorded over the previous seven days, according to the US Department of Labor. above consensus forecastwhich anticipated 190,000 people.

Despite the increase in requests, the experts of Oxford Economics consider that the labor market remains “tight”..

“Recent indicators, including grievances, show that The labor market is still very dynamic, allowing the Fed to raise rates again in March.“, they say.

For their part, the members of the Federal Reserve (Fed) continue to try (without much success) to contain the markets’ optimism regarding their monetary policy.

The governor of the central bank, Christopher Wallerwarned on Wednesday that interest rates “could be higher and for longer than some expect.”Despite the fact that the central bank’s efforts are “starting to bear fruit”, in the form of inflation which is beginning to decelerate.

However, he added that “although We have made progress in reducing inflation, but I want to say today that the job is not done.. Inflation remains too high relative to the price stability objective of the dual mandate given to the Federal Reserve by Congress.

TIME TO REAP BENEFITS

AT rally who recorded the stock Exchange since the beginning of the year 2023, he does not have a long way to go. This is the forecast made by the experts of JP Morganwho believe that the first quarter will mark the “peak” of the market This year. That is why his advice is clear: SELL NOW.

“We expect a soft spot in the second and third quarters, with weaker activity and earnings, and therefore believe that the first quarter will be a market high,” they say. “We advise taking advantage of the current strength to reduce exposure. »that they recommend.

In other markets, oil West Texas is down 1.2% ($77.52) and the Brent is down 1.4% ($83.91). On the other hand, the euro appreciated by 0.70% ($1.0784), and the ounce of gold is up 0.42% ($1,898). Furthermore, the U.S. 10-Year Bond Yield rises to 3.584% and the bitcoin is down 0.45% ($22,760).