Börse Express – New York Stocks: Hardly moved by inflation data

NEW YORK (dpa-AFX) – New inflation data had little effect on the US stock exchanges on Wednesday. The leading index Dow Jones Industrial
was 0.14 percent lower at 36,262.67 points in the first hour of trading. The market-wide S&P 500
quoted minus 0.05 percent to 4682.87 points and the technology-heavy Nasdaq 100 with plus 0.03 percent to 16,224.09 points.

The upward trend in prices in the US accelerated further from a high level in October. Consumer prices rose by 6.2 percent compared to the same month last year. This is the highest inflation rate since 1990. Analysts had expected a more moderate rate.

“The inflation seems to be out of control,” commented the data of the chief economist of the VP Bank from Liechtenstein, Thomas Gitzel. The inflation risks continue to increase and the US Federal Reserve will feel confirmed in its most recent decision to reduce its monthly bond purchases in the current month.

In the meantime, the markets have adjusted to the monetary policy of the central bank being tightened in the future. In addition, the central bank continues to view the rise in inflation as only a temporary phenomenon. The subdued reaction on the stock exchanges shows that investors are no longer so easily disturbed by inflation, commented expert Thomas Altmann from asset manager QC Partners./ajx/mis

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0351 2021-11-10/16:35

Copyright dpa-AFX Wirtschaftsnachrichten GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.

– .