Inflation data is not enough .. “Wall Street” is looking for...

Inflation data is not enough .. “Wall Street” is looking for...
Inflation data is not enough .. “Wall Street” is looking for...
US stock indices quickly gave up their gains, retreating despite the better-than-concern inflation reading.

Dow Jones lost about 215 points, or 0.6%. The Standard & Poor’s was down 0.3% and the Nasdaq was trading down 0.2%.

Bank of America led financial stocks lower. General Electric took industrial stocks in the red. Investors crowded into some of their favorite tech strongholds with Microsoft and Amazon.

August CPI came in lower than feared, while still showing a big jump in inflation. The August CPI jumped 0.3% on the month, or 5.3% from a year earlier, and annual gains expected 5.4% by economists polled by Dow Jones.

European

European shares fell in early trading, on Tuesday, before the release of US inflation data, while weakness in luxury goods and mining stocks overshadowed optimism in the region about an economic recovery.

The pan-European Stoxx 600 index fell 0.2 percent after a partial recovery, on Monday, from last week’s losses.

Luxury goods stocks, including LVMH, Kering and Richemont, fell between 1.6 and 2 percent, tracking their Asian peers on concerns about the spread of Covid-19 infections in China.

Shares of Pandora Jewelery rose 3.7 percent after it announced that it aims to increase sales between 6 and 8 percent in the coming years.

Mining stocks pushed Britain’s FTSE 100 index down 0.3 percent, even as data showed employers added a record 241,000 workers last month.

Japanese

Japan’s Nikkei index closed at a more than 31-year high on Tuesday, led by cyclical stocks that tracked Wall Street’s gains, while progress in a domestic vaccination campaign boosted hopes of reopening the economy.

The Nikkei index rose 0.73 percent to close at 30,670.10 points, the highest level since August 1990. The broader Topix index jumped 1.01 percent to 2118.87 points.

The Standard & Poor’s 500 index rose overnight, ending a five-day losing streak. The gains of 33 sub-indices on the Tokyo Stock Exchange led the insurance sector, which rose 3.67 percent, followed by the shipping sector, which gained 2.14 percent.

Refineries gained 2.05 percent, while oil rose to a six-week high.

The shares of the technology giants, SoftBank Group and Advantest, lost 0.49 percent and 0.18 percent, respectively, after the Nasdaq index fell, on Tuesday.

Tokyo Marine Holdings shares rose 6.2 percent, and the best performer on the Nikkei index was followed by Showa Denko, which jumped 6.19 percent, and Z Holdings shares rose 5.24 percent.

Konami Holdings fell 2.79 percent, and the worst performer was the Nikkei, followed by Pacific Metals, which lost 2.72 percent, and Tokyo Electric Power Company Holdings, which fell 2.27 percent.

(Reuters)

These were the details of the news Inflation data is not enough .. “Wall Street” is looking for... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV UAE fintech Wafeq secures $3m to double down on Saudi presence and expand to Egypt
NEXT Foodics to become the region’s leading food technology company

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]