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Market: Apple rains records on Wall Street

( - After the 'Nvidia' sessions, now it's the turn of the 'Apple' sessions?

The Apple share, with its +7.

2% gain and $205 billion in additional capitalization, with a new all-time high of $207, literally tore up Wall Street, with a new flurry of 'doubles': intraday/closing records, the 2 merging as the Nasdaq takes 0.88% to 17.343, the Nasdaq-100 +0.7% to 19,210 and the S&P 500 +0.27% to 5,375.

The Nasdaq (13th annual record) broke through the +15% annual barrier, despite a majority of stocks declining.

Ditto for the S&P (30th annual record), which finished at its highest level despite most sectors being in the red.

The Dow Jones closed down -0.3% in the wake of Boeing and JP-Morgan (-2.5%).

The good surprise at the end of the session, apart from the stock market records, was the clear easing of US interest rates, with the '10-yr' erasing -7pts to 4.400%, the '30-yr' -6pts to 4.5300% and the '2-yr' -5pts to 4.8300%.

What a show of confidence from Wall Street on the eve of the Federal Reserve's monetary policy decision, expected tomorrow evening.

While there's absolutely no suspense as to whether rates will remain at 5.25/5.50, or as to the 3-month projections (rates maintained in July), the Fed's comments on inflation will perhaps fuel hopes of an easing in September, even if this hypothesis now attracts only 47% of the vote, compared with 70% last week.

T-Bonds had a quiet session, with a -1.5Pt improvement to 4.455%, and even -5Pt in the session (no 'stats' to explain this, perhaps arbitrage with Italian OATs and BTPs).

The summary of economic projections ('dot plots') should reveal that the committee has reduced its rate cut forecasts for this year.

Before that, consumer prices - to be released tomorrow before the open - may well show that the pace of inflation leaves the central bank little room to start easing rates.

If the FED is 'vigilant' on inflation, Wall Street could in turn begin to consolidate.

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