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NEW YORK (dpa-AFX) – Investors in the US did not allow themselves to be disturbed by a surprisingly sharp rise in inflation on Thursday. Share prices rose early in trading, although prefresh consumer prices rose faster than analysts had expected in May. Investors on the market may have recently feared even higher inflation, which has now not occurred, according to retailers.
The leading index Dow Jones Industrial (Dow Jones 30 Industrial) rose by 0.69 percent to 34,683.56 points. The S&P 500, which covers the broader market, rose by 0.68 percent to 4248.20 counters and even rose to a record high. The technology-heavy selection index NASDAQ 100 rose 0.97 percent to 13,948.818 points.
In the USA, inflation rose surprisingly again in May. Compared to the same month last year, the cost of living increased by 5.0 percent. This is the highest rate since August 2008.
“The surge in demand triggered by the relaxation of the corona-related restrictions is obviously leading to bottlenecks and price increases in parts of the economy,” wrote the experts at Commerzbank. Under these circumstances, the US Federal Reserve will increasingly discuss an exit from its bond purchases. In recent years, these have been a key driver of the rally on the stock markets.
Boeing was one of the winners in the leading Dow index, with an increase of 1.3 percent. According to informed persons, the airline United Airlines is considering a major order for the aircraft manufacturer to renew its fleet.
The shares of the logistics company UPS (United Parcel Service) recovered by almost one percent from their price slide from the previous day, when new medium-term corporate goals tempted investors to take profits rather than make a new entry. JPMorgan analyst Brian Ossenbeck took advantage of the slowdown to upgrade the shares to “Overweight”.
Apart from that, one eye remained on the stocks, in which US private investors are currently concentrating on the Internet and thus occasionally causing sharp price fluctuations for months. This includes on Thursday that of the video game retailer GameStop, from which various messages came on Thursday. The shares sagged by ten percent.
Gamestop has presented a new management duo and reported a significant increase in sales in the past quarter. The company’s plans to use the recently catapulted price level to issue new shares are likely to have a negative impact on the share price. Compared to the state at the turn of the year, they are now worth fifteen times as much. The company also announced that the US agency SEC is currently investigating because of the sharp price fluctuations./bek/he
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