STOCK EXCHANGE: Wall Street opened to a decline − OECD predicts that inflation will rise

Wall Street opened lower on Thursday.

Of the three major indexes, the Dow Jones was down 0.6 percent after the opening, the S&P 500 index was down 0.8 percent, and the Nasdaq was down 1.1 percent.

The United States and Iran have again conveyed conflicting information about the progress of the negotiations. President of the United States Donald Trump claimed Thursday that Iran’s negotiators are behind the scenes begging the United States to make a deal, although publicly the negotiators say they are only “looking at” the U.S. proposal.

German bank Jim Reidin according to the market, what is particularly problematic is how much uncertainty there is about the status of the contract. Iran has publicly rebuffed the United States on several occasions. According to Reid, this has caused the market to be increasingly skeptical of positive outcomes from the United States on the state of the negotiations.

The OECD, the organization of developed industrialized countries, predicts that inflation in the United States will rise to 4.2 percent this year. The OECD says that the rise in energy prices will increase inflation in industrialized countries.

The OECD predicts that the United States will have the highest inflation of all the G7 countries this year

If prolonged, the rise in energy prices and the stoppage of traffic in the Strait of Hormuz would have a “significant” impact on inflation and economic growth, according to the OECD.

The price of Brent crude oil has risen again on Thursday. At the time of the afternoon review, the price was 106 dollars per barrel.

In the United States, the number of unemployment compensation applications increased from the previous week. 210 thousand new applications were made. Last week, the number was 205 thousand.