The case is being updated…
Despite better-than-expected inflation figures, the mood on Wall Street was mixed on Thursday. At closing time, the benchmark indices on Wall Street looked like this:
Nasdaq fell 0.6 percent to 12,779 points.
S&P 500 fell 0.1 percent to 4,207 points.
Dow Jones rose 0.1 percent to 33,337 points.
The ten-year US Treasury yield rose 11.2 basis points to 2.89 percent, while the VIX index rose 2.1 percent to 20.15.
On Wednesday, the consumer price index showed that inflation in the United States is slowing. On Thursday, there was another sign that inflation may have abated a little. American producer prices fell by 0.5 percent.
This is not a big drop, but at the same time it is the first time since the very beginning of the corona pandemic that producer prices have decreased. Producer price inflation is also still sky high, and is still at an extreme 9.8 per cent.
– The market is underestimating the risk, inflation is still a problem and you have to see growth come down, said Seema Shah, chief strategist at Principal Global Investors to Bloomberg.
– It is difficult to know whether we are in a bull or a bear market, Salamon told CNBC.
Movements
The streaming service Disney+ gained 14.4 million new subscribers in the second quarter. This was far above analysts’ expectations of 10 million, and the total number is now 221 million, according to the company’s quarterly report.
It is the first time since its launch in 2019 that Disney has more paid users than competitor Netflix, which after a decline this year has 220.67 million users.
Disney the share rose over 4.5 percent on Thursday on results that exceeded expectations.
The oil giant Exxon Mobil rose 2.9 per cent along with the oil price, and is thus up over 45 per cent so far this year. Also one of Buffett’s oil favorites Chevron rose 2.5 percent.
Apple ended the day with a negative sign and fell 0.4 percent. The company now accounts for a larger share of the S&P 500 index than any other company since 1980. Companies such as IBM, Microsift and Exxon Mobil have never achieved the same weighting as Apple has today. The weighting should be 7.3 per cent according to CNBC.
Gold, silver, oil and crypto
The gold prize fell 0.6 percent on Thursday and ended at 1,802.40 per ounce.
The silver prize fell 2.4 percent to 20.235 per ounce.
The price of North Sea oil rose well and ended up 2.1 percent at $99.50 a barrel.
Bitcoinprisen Thursday rose 2.0 percent to 24,093 dollars.
Ethereumprisen also rose and ended up 3.7 percent at 1,887 dollars.
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