NEW YORK (dpa-AFX) – Surprisingly high consumer prices speak against a recovery on Wall Street on Wednesday. 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 tech-heavy select index Nasdaq 100 is likely to drop noticeably more than the Dow at the start with two percent.
Looking at individual stocks, price-moving news is scarce on Wednesday. Twitter calls on 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.
The papers of vaccine developer Novavax are down 1.6 percent premarket after gaining nearly 4 percent the day before. According to a media report, the US health authority FDA is likely to approve a new Covid 19 vaccine from Novavax./bek/jha/
ISIN US2605661048 US6311011026 US78378X1072
AXC0231 2022-07-13/14:51
Copyright dpa-AFX business news GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.
–
