Wall Street: Nasdaq falls awaiting US inflation data

Wall Street: Nasdaq falls awaiting US inflation data

Wall Street trades modestly higher this Wednesday, June 7, with the indices nasdaq and S&P 500 toslowly reaching its highs of the yearin a framework in which attention is focused on the expected inflation data and in the Federal Reserve meeting next week, amid declining odds for a rise in interest rates.

Shortly after the opening, the star index, the industrial Dow Jones, gains 62.8 points (+0.2%) to 33,635; the technological nasdaq while it falls 137.05 points (-1%) to 13,149 and the expanded index S&P 500 -of the largest 500 companies- fell 16.32 points (-0.4%) to 4,267.

He US inflation report Released on June 13, ahead of the Fed meeting, it will provide investors with more clarity on the health of the world’s largest economy.

“The engines behind the bullish movements in stocks are present,” said Ben Laidler of eTorohighlighting the agreement on the debt ceiling and the evidence that deposits returned to the US banking system.

“That has given the markets a bit of room to run ahead of inflation in the US. and the fed meeting next week,” he added.

On Tuesday, Wall Street ended with a modest rise: The Dow Jones gained a marginal 0.03% to end at 33,573.28 points, the Nasdaq advanced 0.36% to 13,276.42 units and the S&P 500 rose 0.24% to 4,283.85, its highest so far of the year.

Source: Ambito

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