US stocks closed Thursday’s session in a mixed direction. The Dow Jones fell 0.44%, to 35,921 points, while the S&P 500 ended up stable, with a slight increase of 0.06%%, to 4,649 points, and the Nasdaq registered growth of 0.52%, to 15,704 points.
Wall Street investors still reflect the data from the CPI (US Consumer Price Index) which was the highest in 30 years.
Over the past 12 months, prices have risen by 6.2% – the biggest rise since November 1990.
In October alone, the general price index rose 0.9%, adjusting for seasonal fluctuations, significantly more than economists had predicted (0.6%), and overshadowing the slightly more lukewarm 0.4% rise in September.
Last month’s price increases were caused by increases in several categories, including energy, shelter, food and cars.
Energy costs have soared in the country, jumping 4.8% in October and 30% in the last 12 months.
Movements and swings on Wall Street
Tesla CEO Elon Musk sold a total of $5 billion worth of his company’s shares this week. After posting on Twitter if his followers would like him to sell 10% of his stake in the tech giant, the billionaire began operations.
In all, Musk sold around 4.5 million shares between Monday (8) and Wednesday (10). Negotiations were carried out in order to cover the super-rich’s tax withholding obligations.
At the same time, Disney investors were not as pleased with the company’s results of its streaming service. Disney+ has 118.1 million subscribers as of October 2nd, more than in August (116 million).
The amusement park chain brought in $18.5 billion in third-quarter revenue, a 26 percent increase over the same period last year.
BOB Chapek; Disney CEO stated that he is satisfied with the results of the streaming.
Rivian Automotive rose another 6% in the pre-market, adding to the 29% jump when the company held its IPO and raised more than $10 billion on November 10th.
And finally, vegan food producer Beyond Meat projected revenue of $85 million to $110 million this fourth quarter, compared with $101.9 million reported in the same period last year. The drop in the forecast also didn’t please US shareholders.
So far, 81 percent of S&P 500 companies that have reported results have beaten Wall Street’s earnings-per-share expectations, noted The Wall Street Journal.
*With information from Chris Isidore, Frank Pallota and Jill Disis of CNN Business
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
