Wall Street closed Thursday in mixed territory, with the Dow Jones Industrial Average, its main indicator, up 0.07% following the publication of the latest inflation figures and the fall in the stock market of technology giants such as Nvidia, Microsoft and Meta.
At the close of trading on the New York Stock Exchange, the Dow Jones rose to 39,748 points, the selective S&P 500 fell 0.88% to 5,584 points, and the technological Nasdaq fell 1.92% to 18,288 points.
The increase in the U.S. Consumer Price Index (CPI) narrowed by three-tenths of a point to 3% in June, the lowest 12-month inflation figure since April 2021, according to data from the Bureau of Labor Statistics (BLS).
The underlying inflation figure, which excludes volatile food and fuel prices, was 3.3%, one-tenth less than in May, and another sign that the Federal Reserve’s restrictive monetary policy is slowly bearing fruit, with the aim of bringing price increases closer to 2%.
Investors now see a 93% chance the U.S. central bank will cut interest rates in September, according to CME Group’s Fedwatch tool.
Additionally, the data pushed up shares of housing-related companies such as Home Depot (2.79%) and DR Horton (7.26%).
On the corporate front, Nvidia was down 6%, Microsoft was down 2% and Meta was down 4%.
By sector, gains predominated, led by real estate (2.66%) and public services (1.83%), while the greatest losses were in technology (-2.74%) and communications (-2.56%).
Among the 30 companies listed on the Dow Jones, the most notable were the advances of Home Depot and McDonald’s (1.72%), and the falls of Intel (-3.93%) and Microsoft (-2.48%).
Elsewhere, Texas crude rose to $82.62, gold rose to $2.42 an ounce, 10-year Treasury bond yields fell to 4.205% and the euro traded at $1.0863.
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2024-07-13 19:59:06