NEW YORK (dpa-AFX) – Investors in the US did not allow themselves to be disturbed by a surprisingly sharp rise in inflation on Thursday. Share prices rose in early trading, although pre-market consumer prices rose more sharply in May than analysts expected. It is possible that investors on the market have recently feared even higher inflation, which has now not occurred, according to the trade.
The leading index Dow Jones Industrial rose by 0.69 percent to 34,683.56 points. The S&P 500, which represents the broad market, rose by 0.68 percent to 4248.20 meters and even rose to a record high. For the technology-heavy selection index Nasdaq 100, it rose 0.97 percent to 13,948.818 points.
In the USA, inflation rose surprisingly again in May. Compared to the same month last year, the cost of living increased by 5.0 percent. This is the highest rate since August 2008.
“The surge in demand triggered by the relaxation of the corona-related restrictions is obviously leading to bottlenecks and price increases in parts of the economy,” wrote the Commerzbank experts. Under these circumstances, the US Federal Reserve will increasingly discuss an exit from its bond purchases. In recent years, these have been a key driver of the rally on the stock exchanges.
Boeing was one of the winners in the leading Dow index, with an increase of 1.3 percent. According to informed persons, the airline United Airlines is considering a major order for the aircraft manufacturer to renew its fleet.
The shares of the logistics company UPS recovered by almost one percent from their price slide from the previous day, when new medium-term corporate goals had led investors to profit-taking rather than a new entry. Analyst Brian Ossenbeck from JPMorgan used the moment of the setback to upgrade the shares to “Overweight”.
Otherwise, attention remained on the stocks, where US private investors are currently concentrating on the Internet and thus occasionally have been causing violent price fluctuations for months. This includes on Thursday that of the video game retailer Gamestop, from which various messages came on Thursday. The shares sagged by ten percent.
Gamestop has presented a new management duo and reported a significant increase in sales in the past quarter. The company’s plans to use the recently catapulted price level to issue new shares are likely to have a negative impact on the share price. Compared to the state at the turn of the year, they are now worth fifteen times as much. The company also announced that the US agency SEC is currently investigating into the sharp fluctuations in exchange rates./bek/he
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