Wall Street starts positive a week marked in the US by inflation and business results

The New York Stock Exchange extended last week’s uploads at the beginning of this Investors remained optimistic about the US Federal Reserve’s (Fed) battle against inflation before the December data is released.

The Dow Jones it rises 0.49%, to 33,793.88 points; the S&P 5000.74%, to 3,924.49 points, and the Nasdaq1.34%, to 10,711.4 integers.

This Monday’s increases add to the strong gains that Wall Street registered on Friday, after the publication of December employment figures, which included a slowdown in the rate of new job creation and wage growth.

This is how Wall Street opens

Eduardo Bolinches

Investors interpreted the published data as an optimistic sign of the Federal Reserve’s (Fed) battle against inflation, which could translate into easing pressure on interest rates.

Thus, the Dow Jones rose 2.12%, its best weekly result since November, after having registered its worst year since 2008 in 2022. The S&P 500 rose 1.5% and the Nasdaq, 1%. These latest indices managed to put an end to four weekly falls.

[Estamos viviendo la calma previa a la tormenta]

This week, the spotlight in the United States is on the publication of the consumer price index (CPI) for December. A moderation is expected to 6.7% in the annual monthly rate, from 7.1% in the previous month.

In addition, investors await weekly jobless claims and consumer confidence reports from the University of Michigan for further clues on the strength of the US economy.

On top of that, the 2022 results reporting season will kick off in the coming days with the accounts of large US banks such as JPMorgan or Wells Fargo.

At the start of the session on Monday, Alibaba’s shares rose 4.8% after learning that the founder of Ant GroupJack Ma will relinquish control of the Chinese fintech giant as part of a restructuring.

Shares of other Chinese companies such as Baidu and Pinduoduo rose 1.5% and 2.7%, respectively, as the reopening of China’s borders added to bets for a strong recovery in the world’s second-largest economy. world.

Tesla shares rose 1.5%. The electric vehicle maker reported longer lead times to deliver some versions of the Model Y in China, indicating that the announced price cuts could be stoking demand in the company’s second-biggest market.

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