Wall Street opened this Friday in red and the Dow Jones Industrialsits main indicator, fell 0.11%, after the latest inflation data was worse than expected by analysts.
Ten minutes after the trading floor opened, the Dow Jones stood at 38,863 points, and the selective S&P 500 fell 0.49%, to 5,125 points.
The composite index of the Nasdaq market, where the main technology companies are listed, fell 0.70%, to 16,016 units.
The indicators continue to be weighed down by the publication this Thursday of the producer price index (PPI) for February, a measure of inflation in the wholesale sector, which rose 0.6% last month, more than expected by analysts.
Excluding food and energy prices, the core PPI rose 0.3% in February.
The economic data reduced expectations that the Reserva Federal (Fed) start making interest rate cuts in June, says analyst Tom Try in your report The Sevens Report.
“Thursday’s PPI reinforced the idea that the decline in inflation has slowed to an apparent stagnation”señala Try.
Investors rate the likelihood that the central bank will keep interest rates unchanged at its policy meeting next week at 99%, according to CME Group’s FedWatch tool.
By sector, the biggest increases were for energy (0.86%) and raw materials (0.24%), while the biggest losses were for technology (-1.18%) and communication (- 0.49%).
Among the 30 Dow Jones stocks, the gains of Amgen (0.9%) and Home Depot (0.84%) stood out, and the losses of Salesforce (-1.74%) and Amazon (-1.25%) stood out. .
Outside of the Dow, the case of the software company stands out this morning Adobe, which falls below 13% this morning after disappointing quarterly results that cast doubt on the real impact of AI on companies in the sector. EFE (I)
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