(News Bulletin 247) – US equity markets closed in mixed order on Tuesday, at the end of a session dominated by inflation figures: the Dow Jones fell less than 0.5% to 34,089 points, while the Nasdaq Composite took nearly 0.6% to 11,960 points.
According to the Department of Labor, consumer price inflation in the United States did slow to +6.4% year on year in January, compared to +6.5% the previous month, but analysts were hoping a slightly more marked slowdown.
‘Inflation in the United States is falling, but only slowly’, notes Commerzbank. Believing that ‘the Federal Reserve cannot yet be satisfied’, the German bank is planning further rate hikes on its part.
Following this statistic, thus fueling expectations of a sustained rise in interest rates, bond yields tightened with, in particular, a US 10-year benchmark rate up four basis points to 3.75%. .
As for values, operators welcomed the quarterly publication of the Marriott hotel chain (+4%), but neglected that of the soda giant Coca-Cola (-1.7%), affected by the strength of the dollar and the persistence inflationary pressures.
On the tech front, Palantir soared 21.2% after reporting its first-quarter profit story, while Nvidia climbed 5.4% on favorable comments from Bank of America.
Ford fell 0.9% after formalizing plans to cut 3,800 jobs in Europe as the automaker sought to ease its cost base ahead of the coming economic downturn.
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