The mixed picture continued on Thursday (13/6) on Wall Street, with the Dow closing slightly lower and the S&P 500 and Nasdaq holding record highs as the latest economic data showed easing inflation. .
In particular, the industrialist Dow Jones lost 0.17% to 38,646.58, the broader S&P 500 added 0.21% to 5,432.40 and the tech-heavy Nasdaq Composite rose 0.33% to 17,665.90.
THE There is a producer price index It decreased by 0.2% from last month, while economists polled by Dow Jones expected a 0.1% increase. This report comes a day after its publication It could be the consumer price indexwhich rose below the forecast.
Thursday’s data also follows the Federal Reserve’s decision on its next monetary policy. The Fed announced that the interest rate will remain unchanged, but emphasized that progress has been made in the face of inflation. As such, the central bank expects to reduce the rate within 2024.
“We can rule out the possibility of interest rate increases from now on. This framework supports equity and debt valuations,” said Zachary Hill, head of portfolio management at Horizon Investments. “Our basic expectation, right now, is that equity markets will continue to move higher.”
Broadcom stock jumped 12.24% after the company beat expectations for its fiscal second quarter and announced a 10-for-1 stock split Meanwhile, shares of Dave & Buster’s Entertainment fell 11.87% , because the company’s income in the first quarter. below estimates.
Generac and Paramount Global lost 5.09% and 1.30%, respectively, narrowly ending the S&P’s gains. Oi Salesforce (-2.93%), Amazon (-1.64%) and Caterpillar (-1.06%) contributed to the decline of the Dow.
Oil rose amid inflation optimism
Oil rose higher on Thursday as the latest economic data showing a slight decline in inflation brought hope to the markets.
Against this backdrop, the July delivery contract for US WTI crude oil closed 0.15% higher at $78.62 a barrel. As for Brent, the August delivery contract rose 0.18% to settle at $82.75 a barrel.