Increases in NY: Wall Street dominates inflation and anticipates a rebound to the upside
Wall Street anticipates a recovery session after the falls caused by the rise in inflation. Nasdaq Futures Up 1%; those of the S&P 500, 0.59% and those of the industrial average, 0.42%.
It seems that money is beginning to enter the US stock market to conclude the week and, in terms of macro figures, unemployment claims in the US fall, below the 500,000 barrier for the second consecutive week: 473,000 compared to the previous 566,000 and compared to the 490,000 expected.
With respect to producer prices, the monthly PPI of the US in the month of April rose 0.6% compared to the previous + 1% and compared to the + 0.3% expected. The year-on-year PPI also rose: + 6.2% vs + 4.2% previously and vs + 5.9% expected.
Today highlights the publication of retail sales and industrial production last April, as well as the preliminary reading for May of the consumer sentiment index.
On the other hand, “as long as the CPI remains between 0% and 4% we can say that we are in a scenario of inflation under control. When that barrier is passed, it gives the feeling that inflation is a bit out of control. Here it is when the stock markets get a little more nervous “, says the director of analysis of Investment Strategies, Luis Francisco Ruiz.
At the business level, the Walt Disney company presented results with sales of 15.61 billion dollars, higher than those of the first quarter of 2020.
Airbnb, for its part, revealed sales of $ 887 million, which represents an increase of 5.3% and an adjusted Ebitda of -58.6 million dollars compared to -361.3 million previously.
Coinbase posted an Adjusted Ebitda of $ 1.12 trillion versus $ 1.1 trillion previously. Its net profit amounted to 771.5 million compared to 800 million previously. Coinbase shares fell by -6.53% yesterday, but it seems that more influenced by the fall of bitcoin than by the expectation of publication of results.
The price of crude oil rises more than 1%. In the commodities market, US West Texas oil rose 1.41% to 64.53 dollars per barrel and a barrel of Brent, a benchmark in Europe, added 1.38% to 67.81 dollars.
The euro appreciates 0.29% to 1.2112 ‘greenbacks’. The yield on the 10-year Treasury bond falls to 1.64%.