NEW YORK (awp international) – Surprisingly high consumer prices on Wednesday argue against a recovery on Wall Street. Consumer prices rose by 9.1 percent year-on-year in June, more than analysts had expected. This increases the pressure on the US Federal Reserve to raise key interest rates quickly and sharply. In US bond trading, Treasury yields soared after the data.
The broker IG appraised the leading US index Dow Jones Industrial just under an hour before the start of trading with a drop of one percent to 30,676 points. The index had recently fallen three days in a row. The technology-heavy selection index Nasdaq 100 is likely to drop noticeably more than the Dow by two percent.
Looking at individual stocks, price-moving news is scarce on Wednesday. Twitter is asking tech billionaire Elon Musk in court to implement the agreed takeover of the online service. The online service filed a lawsuit in the state of Delaware for this. The competent court can order the completion of a takeover, which Twitter also expressly demands. Twitter shares are up 1.4 percent premarket.
Delta Air Lines shares fell five percent. The airline underperformed second-quarter earnings and expects high operating costs for the rest of the year.
Vaccine developer Novavax fell 1.6 percent premarket after gaining nearly 4 percent the previous day. According to a media report, the US health authority FDA is likely to approve a new Covid 19 vaccine from Novavax./bek/jha/
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