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S&P 500, Dow Rise on Inflation Data, Nasdaq Rounds Stable on Interest Concerns – Money Times

At 12:05 (GMT) the S&P 500 index gained 0.89% to 4,036.60 points (Image: REUTERS/Brendan McDermid)

The indices S&P 500 and dow jones rose amid shaky trading on Wednesday, boosted by gains in banks and companies of energy, while the Nasdaqwith heavy technology paperweights, came under some pressure after data from inflation consolidate expectations of aggressive increases in US interest rates.

Ten of the S&P’s 11 major sectors advanced on the day. Energy stocks gained 3.4% as oil prices rose more than 4%, driven by supply concerns.

The financial sector advanced 1.1%, while banks jumped 1.5%, following yields on ten-year Treasuries, which returned to above 3% on Wednesday.

However, the prospect of higher interest rates in the United States affected mega-cap stocks such as amazon (AMZN; AMZO34), Microsoft (MSFT), apple (AAPL), Meta Platforms and Tesla (TSLA), which lost between 0.2% and 0.8%.

The US Labor Department’s report showed the consumer price index rose 0.3% last month, the smallest gain since August 2021, but still above economists’ forecast for a 0.2% rise.

The monthly price rise was much smaller compared to the 1.2% jump recorded in March, which had been the most intense since September 2005, but traders are still pricing in a 77% chance of a 0.75% tightening. percentage point in interest by the Federal Reserve next month.

“The data underscores that inflation and rising prices are likely not yet peaking,” said Greg Bassuk, chief executive of AXS Investments in Port Chester, New York.

At 12:05 (Brasília time), the index S&P 500 (SPX) gained 0.89%, at 4,036.60 points, while the dow jones (DJI) rose 0.76% to 32,406.47 points. The technology index Nasdaq (US100) advanced 0.05% to 11,743.92 points.

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