Wall Street in the green after inflation figures


(Reuters) – The New York Stock Exchange opened higher on Thursday as investors calmly digest the news of a sharper-than-expected acceleration in inflation in May, a scenario that was more or less expected.

In the first exchanges, the Dow Jones index gained 276.25 points, or 0.8%, to 34,723.39 points and the Standard & Poor’s 500, larger, rose 0.63% to 4,245.93 points.

The Nasdaq Composite gained 0.19% to 13,937.78 points at the opening.

According to data from the Labor Department released Thursday, the “Core CPI” price index, which measures price changes excluding food and energy, was up 0.7% last month compared to April and 3.8% over one year.

Economists polled by Reuters had forecast an increase of 0.4% on the month and 3.4% year on year.

“The numbers are slightly above expectations, but not very outside the range (of forecasts). I don’t think that will change the view of the Fed on keeping interest rates very low,” Mark said. Grant, Head of Strategy at B. Riley Financial.

Investors also took note of the weekly jobless claims, which confirmed that the US labor market remains under pressure.

Registrations hit a low of nearly 15 months last week, at 376,000 against 385,000 the previous week, the lowest level since March 2020, at the very beginning of the effects of the health crisis on the labor market.

At values, Boeing is up 2.76% while according to several sources at Reuters, the company United Airlines (+ 1.24%) has initiated discussions for a large order for single-aisle aircraft that would be shared between the American aircraft manufacturer and its rival Airbus.

(Ambar Warrick, Blandine Hénault for the French version, edited by Jean-Michel Bélot)


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