NEW YORK (dpa-AFX) – The rally in the US stock market, which resumed on Tuesday at the start of the exchange, was dampened in trading. After further signs of a downward trend in inflationary pressure initially gave Wall Street the tailwind, profit-taking began about two and a half hours before the end of the stock market. The industrial Dow Jones
There is relief that producer-level price increases in October have weakened for the fourth time in a row and even more clearly than expected. The fact that the mood in industry in the New York economic area surprisingly brightened in November was also well received. However, according to market experts, this is already reflected quite clearly in the stock market recovery that has already occurred. He also pointed out that some short-term investors had already cashed in on Monday in response to the recent rally.
The Dow Jones fell 0.38% to 33,410.93 about two hours before the market close. S&P 500 at market level
The rally in the US stock market gained momentum last Thursday, even after the release of data that high inflationary pressures in the US were easing. Finally, they reinforce hopes that the worst is over in terms of inflation and that the US Federal Reserve may be less aggressive in further interest rate hikes.
The Dow Jones is up more than four percent since consumer prices were announced for October, and has even risen about 18.5 percent since its last low in mid-October. Technology stocks have received a particularly strong boost from signs of inflation. They had so far lagged behind the broad market recovery and had previously declined particularly sharply. Since Thursday, however, the Nasdaq 100 pick index is up as much as 11.5%.
From a business perspective, shopping giant Walmart was persuasive on Tuesday
Do-it-yourself chain Home Depot also posted strong business data for the third quarter
Netflix’s doc also came under fire
ISIN US2605661048 US6311011026 US78378X1072