US inflation stood at 5 percent year-on-year in May. This made life in the US on average even more expensive than the average expectation of experts, who assumed an increase in inflation to 4.7 percent. There are fears that the general price increases will make the central bank umbrella organization the Federal Reserve more likely to decide on an interest rate hike or the phasing out of corona support measures. But several Fed executives have repeatedly indicated that higher inflation is likely to be temporary.
The S&P 500 rose 0.5 percent to 4239.18 points. The leading Dow Jones index ended slightly higher at 34,466.24 points and tech gauge Nasdaq advanced 0.8 percent to 14,020.33 points.
It was also announced that the number of new benefit claims in the US has fallen for the sixth week in a row. In addition, the interest rate decision of the European Central Bank (ECB) was also monitored. In Frankfurt, the fireworks did not come as expected.
GameStop and AMC down
GameStop came up with numbers and announced that two former Amazon executives are joining the company’s top executives. The directors must assist in the transition from GameStop to an e-commerce company. GameStop also said it plans to sell another 5 million shares in due course. Cinema chain AMC Entertainment, which, like GameStop, belongs to the so-called Reddit shares, fell more than 13 percent.
Aircraft maker Boeing made a small price gain. United Airlines has reportedly ordered a substantial number of new aircraft from Boeing. This would include at least one hundred aircraft of the 737 MAX type.
Grub traded 1.8% lower. The shareholders of the American meal delivery company gave the green light today for the acquisition by the Dutch-British peer Just Eat Takeaway.
Hack at Electronic Arts
Game producer Electronic Arts (EA) fell slightly. The company behind popular games such as Battlefield, FIFA 21 and Need for Speed has fallen victim to a data hack. EA said the hackers stole a limited number of source codes, among other things. No player data was stolen and their privacy was not compromised, EA said.
The euro was worth 1.2170 dollars, just like at the close in Europe. A barrel of US oil became 0.3 percent more expensive at $70.19. Brent oil also climbed 0.3 percent in price, to 72.43 dollars a barrel.
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S&P 500 index hits Wall Street record after inflation figures |cijfers Financial
Source link S&P 500 index hits Wall Street record after inflation figures |cijfers Financial