Wall Street has fed the specter of inflation

Wall Street has fed the specter of inflation

This is what it looked like when Wall Street closed on Wednesday:

  • Dow Jones -0.02 percent to 35,805.17 points
  • Nasdaq 0.44 percent to 15,845.23 points
  • S & P500 0.23 percent to 4,701.51 points

The arrows started in negative terrain, but gradually recovered. The market was concerned about the outcome of the US Federal Reserve cutting its purchases of support. Today, market participants gained more insight into what members of the Federal Reserve’s interest rate committee think on the matter, when the minutes of the latest interest rate meeting were released.

The United States is currently experiencing strong inflation in terms of reopening society. Unemployment has reached a record low and prices are rising sharply. The committee wrote in the minutes of the meeting held three weeks ago that it will not hesitate to implement measures to counter inflationary pressures. Meanwhile, inflation is at its highest level since the 1990s, writes Bloomberg.

On Wednesday, there was a rebound in energy and real estate stocks, and the high-tech Nasdaq rose more than other indices.

Lowest number of new unemployed in 50 years

Before the stock market opened, the US Department of Labor announced that the number of first-time applicants for US unemployment benefits (unemployment claims) was 199,000 last week. This is the lowest number since 1969, many US websites write.

U.S. gross domestic product rose 2.1% in the third quarter of 2021 as measured at an annualized rate, according to revised figures.

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US personal consumption rose more than expected in October from the previous month.

Demand for durable goods in the US fell 0.5% in October on a monthly basis. A slight increase of 0.2 percent is expected in advance.

There will be no trading on US stock exchanges on Thursday as Americans celebrate Thanksgiving or Thanksgiving.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.

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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