The NY Stock Exchange closed uneven yesterday after inflation data in the United States that calmed the market despite a slight rise in prices, on a day of retraction by large technology companies. The Dow Jones Industrial Average gained a modest 0.11%the technological Nasdaq lost 0.26% and the expanded S&P 500 index ended practically stable (0.02%). The stock market reacted yesterday to the CPI, which as expected showed a rebound in 12-month inflation, to 2.6% compared to 2.4% in September.
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“The CPI was as expected” which is “a positive point”, given that “some investors feared it could go above consensus”Art Hogan, of B. Riley Wealth Management, explained to AFP. The market now expects “the central bank (Federal Reserve) continues to cut rates” of interest. “The market continues to celebrate a US economy that seems to have above-average growth”Hogan noted.
Wall Street will receive wholesale price data today and retail sales and industrial production figures on Friday.
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Wall Street.
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The Nasdaq was the big loser of the day due to falls in big tech capsparticularly in the semiconductor sector. Nvidia (-1.4%), Broadcom (-1.5%), Qualcomm (-1.8%), Marvell Technology (-2.9%) and Micron (-4.%) finished lower.
AMD lost (-3%) after press reports that the group will reduce its global workforce by 4%, almost 1,000 employees. Amazon rose (2.5%) after launching a section dedicated to low-priced items called ‘Amazon Haul’.
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AFP
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