Indices in this article
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 even though pre-release consumer prices rose more sharply in May than analysts had anticipated. Investors on the market may have recently feared even higher inflation, which has now not occurred, according to retailers.
For the leading index Dow Jones Industrial (Dow Jones 30 Industrial) it was only enough to achieve a manageable increase of 0.06 percent to 34,466.24 points. However, other major indices rose more strongly. The market-wide S&P 500 rose by 0.47 percent to 4239.18 counters and even rose to a record high. For the technology-heavy NASDAQ 100, it went 1.05 percent even higher to 13,960.35 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 experts at Commerzbank. Under these circumstances, the US Federal Reserve will increasingly discuss an exit from its bond purchases. These have been a key driver behind the rally on the stock markets in recent years.
Boeing shares rose by almost three percent at the top, with only 0.1 percent remaining at the end. 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 (United Parcel Service) recovered slightly by 1.1 percent from their price slide from the previous day, when new medium-term corporate goals prompted investors to take profit. Analyst Brian Ossenbeck from JPMorgan used the setback to upgrade the shares to “Overweight”.
The papers of the video and computer game developer Electronic Arts fell at times by 2.4 percent. It was triggered by a report by an industry magazine that the company was the victim of a hacker attack. Afterwards, however, the price made up almost all of the losses.
One focus remained on the stocks, which US private investors are currently concentrating on on the Internet and which have therefore occasionally caused sharp price fluctuations for months. This again included those of the video game retailer GameStop on Thursday, from which there were various messages on Thursday. The shares plummeted by almost 30 percent.
Gamestop has presented a new management duo and reported a significant increase in sales in the past quarter. However, 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. Since the beginning of the year, the price has almost doubled. The company also announced that the US agency SEC is currently investigating because of the sharp price fluctuations.
Neither the European Central Bank meeting nor the US inflation data gave the euro any sustained impetus. Most recently, the common currency was quoted at $ 1.2173. The European Central Bank had set the reference rate at 1.2174 (Wednesday: 1.2195) dollars. The dollar had thus cost 0.8214 (0.8200) euros. On the US bond market, government bond prices rose again after initial losses. The futures contract for ten-year Treasuries (T-Note-Future) rose by 0.26 percent to 133.07 points. The yield on ten-year bonds fell accordingly to 1.44 percent./bek/he
— By Benjamin Krieger, dpa-AFX —
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