AGI – Positive closing for Wall Street on Thursday 12 June, which welcomed the data on unemployment benefits well and did not allow itself to be influenced by consumer prices rose more than expected in May. New record for the S&P index at 4,239.31 points (+0.5%), surpassing the highs reached on 7 May. The Dow Jones gained 0.05% to 34,466.89 points and the Nasdaq 0.78% to 14,020.33 points.

Investors therefore appear to be betting that the Federal Reserve will maintain its accommodative monetary policy despite overheating inflation, which last month recorded a 5% annual jump, the largest since August 2008, and grew by 0.6%. compared to April.

The Federal Reserve continued to repeat that the price increases are provisional, thus not suggesting a change of pace in the next meeting of the Federal Open Market Committee (FOMC), scheduled for June 15-16. On the other hand, much of the price hike has come from items such as commodities and airfares, and is therefore likely to be temporary.

Meanwhile, land jobless claims fell 9,000 to 376,000, the best figure since the start of the pandemic, to indicate the momentum of the economy. On the equity front, the GameStop stock, which lost 27% after announcing its intention to sell up to 5 million shares, should be noted. The company has appointed Matt Furlong, former Amazon manager, as CEO. Among the best stocks, Walgreens Boots (+ 3.52%) and Merck & Co (+ 2.86%). Among the worst were Caterpillar (-3.78%), Goldman Sachs (-2.43%) and Jp Morgan (-1.56%).

By Editor

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