Climbing on Wall Street | Finansavisen

Climbing on Wall Street |  Finansavisen

On Tuesday, the US stock market rose in anticipation of new inflation numbers on Wednesday. Core inflation is still expected to be high, but CPI is expected to come in lower than last month.

On Wednesday, we will receive more clarifications on core inflation. What worries the Fed is that a payroll spiral will occur, Brent Schott of Northwestern Mutual Wealth Management tells CNBC.

– I think there will be a recession because the Federal Reserve will continue to raise interest rates until they see the labor market take a hard hit and wage growth falls below 4 percent, he continues.

The S&P 500 rose 0.67 percent to 4,439.26, while the technology index, the Nasdaq, rose 0.55 percent to 13,760.70. The Dow Jones rose by 0.93 percent to 34,260.82.

The volatility index – the VIX – fell 1.33 percent to 14.87, while the 10-year US government bonds were at 3.98 percent.

oil and gas

The September contract for Brent oil increased 2.29 percent to $79.47 a barrel, while the price of a barrel of West Texas Intermediate crude oil rose 2.63% to $74.91 a barrel.

US natural gas rose 2.42 percent on Tuesday to $2.73 a barrel. MMBtu. European natural gas (TTF) fell 3.86 percent to 29.06 euros/MWh.


Facebook’s owner Meta, Amazon, Netflix, Apple and Alphabet (aka FAANG shares) had a mixed day on the stock market Tuesday:

  • Facebook shares rose 1.42 percent to $298.29.
  • Amazon shares rose 1.29 percent to $128.78.
  • Apple shares fell 0.29 percent to $188.08.
  • Netflix fell 0.34% to $440.21.
  • Alphabet shares rose 0.59 percent to $117.14.
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Several of the largest US media outlets reported on Tuesday that Microsoft will buy gaming company Activision Blizzard, which is behind games like Call of Duty, World of Warcraft and Candy Crush.

And on Tuesday, the share price closed at around $91, up more than 10 percent. In the acquisition agreement, Microsoft offered $95 each to value the gaming company at $68.7 billion. According to today’s dollar exchange rate, this corresponds to approximately NOK 715 billion.

Microsoft shares rose marginally 0.19 percent.

Bank of America Securities upgraded 3 million from underperforming to neutral, helping lift the stock 4.87 percent in the opening minutes. The investment bank believes, among other things, that the company’s restructuring and planned spin-off of the healthcare business could contribute to price stimulus.


Authorities in China indicated further stimulus to the housing sector, which was well received on Asian stock exchanges. Macro analyst Kelly Chen at DNB Markets confirms that activity has declined a lot, and is now at levels that will not be able to balance out the housing market in the long term.

– It’s about getting the housing sector back up and running again, and then the authorities have to bring home buyers back, Chen tells Finansavisen.


At the close on Wall Street, bitcoin was trading down 0.19 percent to $30,620.64 per coin dollar. Ethereum was trading down 0.94 percent to $1,877.60 per coin at the time of the close.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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