Dow Jones closes in the red
Market traders lose their desire to buy on Valentine’s Day
02/14/2023 10:37 p.m
Inflation in the US is falling, but only slowly. Investors were hoping for a sharper decline. Their disappointment is reflected in their reluctance to buy titles. Some of the stock markets are in retreat.
Wall Street investors lost their appetite for Valentine’s Day amid the surprisingly modest fall in inflation. The Dow Jones Index the standard values listed in New York 0.746 percent lower at 34,089.79 points. The broader one S&P 500 was 0.03 percent lower at 4136.19 points. The index of the technology exchange Nasdaq gained 0.56 percent to 11,960.15 points.
The inflation rate for goods and services fell to 6.4 percent at the beginning of the year from 6.5 percent in December, according to the Washington Department of Labor. Experts polled by Reuters had expected 6.2 percent. The persistently high cost of rents, which accounted for almost half of the total increase in January, is to blame for the persistently high inflation, explained Konstantin Oldenburger, market analyst at broker CMC Markets.
Food, petrol and natural gas prices also rose. “Today’s numbers confirm Fed Chair Jerome Powell’s repeated warning that the Fed’s work is not done,” Commerzbank experts said.
With a view to the inflation figures, investors parted with bonds. The background is the speculation on a longer phase of rising interest rates. Meanwhile, oil came under pressure following a US government decision to release more strategic oil reserves. the sort Brent from the North Sea and US light oil STI were down 0.07 percent and 1.26 percent, respectively, to $85.64 and $79.13 per barrel (159 liters).
Palantir rejoices in winning
In the case of individual stocks, investors grabbed shares because of a profit forecast that exceeded market expectations Marriott to. The hotel chain’s stock rose 3.96 percent to $181.27, the highest since early June. Adjusted earnings per share for the first quarter are expected to be between $1.82 and $1.88. Experts are expecting earnings of $1.66 per share. “Despite global economic concerns, our booking numbers remain robust,” said Marriott CEO Anthony Capuano.
In addition, according to the forecast, 2023 should be the first profitable year for the data analysis company Palantir become. As a result, the title of the controversial group rose by more than 21.29 percent. The reason for the forecast are cost reductions for personnel and the boom in artificial intelligence, the company announced on Monday after the stock exchange closed.
In turn, a better-than-market earnings forecast for 2023 could keep investors from Coke not convince. The securities lost 1.68 percent. While rival Pepsi no longer wants to sell its products at higher prices in the current financial year, Coca-Cola announced a further price increase. However, according to analysts, the maker of drinks such as Fanta and Sprite is able to keep raising prices because of its brand strength – even if the competition does not do so.