Wall recovery trends after Wednesday’s ‘inflationary’ sell-off

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Major stocks on Wall Street rose on Thursday after the sell-off, mainly on technology stocks that fueled inflation and rising US government bond yields on Wednesday.

On the dashboard, the industrial Dow Jones falls by 42.84 points or 0.12%, with the widest S&P 500 to gain 11.59 points or 0.25%, while the technological Nasdaq records an increase of 131.2 points or 0.84%.

Nvidia shares more than 2%, while AMD shares more than 1%. Shares in both Facebook’s parent company, Meta, and Google’s parent company, Alphabet, are also gaining ground.

Tesla shares rose about 1% in initial trading following CEO Elon Musk’s move to sell shares worth about $ 5 billion a week, according to financial activity documents filed Wednesday.

Disney stock fell more than 8% after disappointing quarterly results in revenue and profits. The number of subscribers to the Disney + platform also disappointed with the predictions.

The US consumer price index rose 6.2% year-on-year on Wednesday on Wednesday, the highest level in 31 years.

“Inflation remains persistently high, in defiance of estimates that prices would fall sooner,” said Ryan Detrick, head of market strategy at LPL Financial. “The truth is that it is not possible to close a $ 20 trillion economy and not experience some turmoil when it restarts, but we hope that supply chain issues will begin to be resolved in the coming quarters, when inflation will begin. to retreat as well. ”

Following the announcement of US inflation data yesterday, traders revised their estimates of how quickly the country’s Federal Reserve will proceed with the first post-pandemic rate hike. It is now predicted by the market that it will happen in July 2022.

Of the 30 Dow shares, 15 are positive and 15 are negative. The profits are led by those of Boeing, Salesforce, Caterpillar, while those losses of Walt Disney, Visa, Johnson & Johnson.


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