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New York’s Dow Jones Stock Exchange closed higher for a second straight day on Wednesday (January 11), citing expectations for slowing US inflation. This will be a factor that encourages the United States Federal Reserve (Fed) to accelerate in raising interest rates.
The Dow Jones Industrial Average closed at 33,973.01, up 268.91 points, or +0.80%, the S&P 500 closed at 3,969.61, up 50.36 points, or +1.28%, and the Nasdaq closed at 10,931.69.7%, up 10,931.67%. up 1,931.67%, up 1,931.67%, up 1,931.67%, up 1,931.67%.
The US Department of Labor is expected to release the Consumer Price Index (CPI) for December today. Meanwhile, analysts in a Reuters poll expect the headline CPI, which includes food and energy, to rise. rising 6.5% in December year on year. This slowed by 7.1% in November.
Investors in financial markets are now weighing up to 75% that the Fed will raise interest rates by just 0.25% at its February meeting.
All 11 stocks that make up the S&P 500 ended in positive territory, with the real estate index up 3.6 percent and the luxury sector gaining 2.68 percent.
Tech stocks continue to rise. Amazon shares rose 5.81%, Micron Technology shares rose 1.49%, Alphabet shares rose 3.51%, Microsoft shares rose 3.02%, Apple shares rose 2.11%.
Tesla shares rose 3.68% after Bloomberg News reported that Tesla is nearing a preliminary agreement to set up a car factory in Indonesia with a production capacity of 1 million cars a year
Bed Bath & Beyond stocks, one of the leading retailers of home appliances in the United States, The stock increased to a solid 68.6%, boosted by optimism that Bed Bath & Beyond could receive takeover offers from other companies following weak results. It is also possible that the company will file a petition in the United States for a receiver under Section 11 of the Bankruptcy Act.
In addition to the US CPI, investors will also be watching Friday’s earnings for major banks including JPMorgan, Citigroup, Bank of America and Wells Fargo.
Source: InfoQuest news agency
