Dow Jones closes in positive territory
Investors see light at the end of the tunnel
02/13/2023, 10:40 p.m
Interest rate worries on Wall Street are beginning to recede. Stockbrokers are hoping for a weakening of the inflation rate. US inflation data will already provide information this Tuesday and will have a significant influence on the further interest rate policy of the US Federal Reserve.
Wall Street sentiment is improving ahead of much-anticipated inflation data. The Dow Jones Index the default values and the broader one S&P 500 were listed about one percent higher on Monday afternoon in New York at 34,246.19 and 4137.36 points. The index of the technology exchange Nasdaq was 1.48 percent higher at 11,891.79 points.
Especially heavyweights like Apple, Amazon and Microsoft were able to recover from recent losses with an increase of up to 3.12 percent. That gave the Nasdaq a boost. Resurgent interest rate concerns had put growth companies under pressure last week. Investors are now looking forward to the US inflation data expected for Tuesday, which experts say will help determine the further interest rate policy of the US Federal Reserve.
If consumer price inflation continues to slow as expected, it would be excellent news for the stock market, said Konstantin Oldenburger, a market analyst at brokerage firm CMC Markets.
However, if the downward trend were to be interrupted and the data showed a rise in the core rate again, the dam would probably break first. Experts polled by Reuters expect the inflation rate to fall to 6.2 percent in January from 6.5 percent in December. Crude oil prices of grade Brent and US light oil STI turned himself in the red.
Investors reacted to the individual stocks Meta pleased with a report by the “Financial Times” according to which the Facebook parent is planning further job cuts. The shares rose by almost three percent. In November, the US group had already laid off 11,000 people – or 13 percent of the workforce. At the beginning of February, the Facebook parent announced that it wanted to reduce its spending by five billion dollars in the current year. The shares of Bed, Bath & Beyond fell 13.19 percent after the company’s Canadian division was declared bankrupt. As a result, 65 branches of the ailing US furniture store have to close.