Wall street has registered soft purchases this Thursday (Dow Jones: + 0.06%; S&P 500: + 0.47%; Nasdaq: + 0.78%). To highlight, the S&P 500 set a new record at 4,249 points and the Nasdaq has recovered 14,000 after discounting the most important data of the week: the May inflation in the United States.
The United States CPI has soared to 5% year-on-year, after rebounding 0.6% in May. Figures that have exceeded the forecast of a rebound in the CPI of the 0.4% last month, until 4.7% year-on-year.
The rise in prices in the US is the older than the last thirteen years, according to the latest published data, due to several factors, including the comparative effect vs. 2020, when the global lockdowns occurred to fight the pandemic.
In addition, advances in vaccination have allowed the US economy to reopen, which in turn has led to a resurge in demand by consumers. This is causing notable rises in the price of raw materials, as well as bottlenecks in the industrial and service sectors, which are driving up prices.
The core inflation, which excludes the price of food and energy, rose 0.7% in May, to 3.8% year-on-year, also above the 0.4% anticipated, up to 3.4% year-on-year. In the case of the underlying CPI, it is your year-on-year maximum since 1992.
"Price increases resulting from the reopening of the economy and current supply chain bottlenecks keep the inflation rate high and sticky, since the imbalances between supply and demand they only resolve gradually ", they point out from Capital Economics.
"While we share the Fed's view that this is not the beginning of an upward inflationary spiral, we hope that inflation remains persistently above 2% until 2022"these experts add.
COMPANIES AND OTHER MARKETS
At the business level, United Airlines negotiate the purchase of 100 Boeing aircraft to renew your fleet. This causes its shares to have seen a slight rally after it opened with heavy losses.
In addition, the Spanish Wallbox, owned by Iberdrola, will go public on Wall Street with a valuation of 1,500 million dollars, through a Special Purpose Acquisition Company (SPAC), after reaching an agreement with Kensington Capital Acquisition Corp. II.
On the other hand, Ocugen Inc has signed a crash above 25% after confirming that it will not seek an emergency authorization for the use of its COVID-19 vaccine.
In addition, GameStop has confirmed that the Securities and Exchange Commission has requested documents related to the investigation into the 1,600% rally it experienced in January thanks to Reddit. This has caused the punishment of the markets, collapsing with falls of 27%.
A suffering that has been extended to the other two companies that are considered 'meme action'. Clover health it has sunk 12%, after Reddit catapulted it above 100% last Tuesday; Y AMC has fallen by 13%.
In other markets, the Petroleum West Texas is up 0.29% to $ 70.16. The euro depreciates by 0.02% and changes to $ 1.2173, while the ounce of gold it rises 0.30% to $ 1,901. And the profitability of 10-year American bond slightly yields to 1,442%. Finally, the bitcoin it rises 0.62% to $ 36,332.
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