New York equities: inflation data calm down – Dow with next record

NEW YORK (dpa-AFX) – The latest US inflation data have calmed investors on the New York stock market in the middle of the week. The Dow Jones Industrial climbed to a record high for the third day in a row. A good two hours before the stock market closed, the US benchmark index was 1.41 percent higher to 32 281.52 points. At the top of the index, the shares of the aircraft manufacturer Boeing continued their strong previous day with a plus of 5.2 percent.

The market-wide S&P 500 gained 0.67 percent to 3901.48 points. After the impressive recovery of the previous day on the Nasdaq technology exchange, the prices fluctuated between plus and minus on Wednesday: the Nasdaq 100 recently lost 0.31 percent to 12,754.54 points.

After fears of inflation recently pushed bond yields higher, investors looked at consumer price data with all the more tension. By and large, they lived up to expectations. According to Helaba, the price pressure seems to be increasing, after all, the overall inflation rate is at its highest level in a year. However, worries about inflation shouldn’t get any bigger, according to economist Ulrich Wortberg. He pointed out that inflation was related to increased energy costs, but the core rate had fallen slightly.

The yield on ten-year government bonds was recently only 1.51 percent and was thus well below its recently reached high of 1.61 percent in just over a year.

The inflation worries are related to a gigantic new stimulus package, which is likely to be finalized this Wednesday. During the course of the day, the House of Representatives is expected to approve the $ 1.9 trillion package of measures with which the new US President Joe Biden wants to cushion the consequences of the corona pandemic.

General Electric (GE) shares lost more than five percent. The US conglomerate is parting with its aircraft leasing business Gecas as part of its restructuring, which it is merging with Irish competitor AerCap. For the deal, GE is said to receive more than $ 30 billion to be used to reduce debt. There had already been reports on Monday, to which the GE papers had reacted very positively.

The headlines are once again the Gamestop shares, which have been very popular with private speculators since the end of January. For a long time it was a little quieter about the papers, but this week at the latest they drew attention again with two price jumps on Monday and Tuesday. They continued the rally on Wednesday before they fell like a stone. Most recently, they were quoted significantly higher again.

The online video game platform Roblox got off to a strong start on the stock market. The New York stock exchange Nyse had set the reference price for the papers at 45 dollars, which corresponded to an overall valuation of around 30 billion dollars. The first rate was significantly higher at $ 64.50. Most recently, the shares were priced at $ 74. In the pandemic, Roblox developed into a virtual playground for children, now the company wants to conquer Wall Street./ajx/men

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