(News Bulletin 247) – The New York Stock Exchange took full advantage on Thursday of the latest figures which confirmed the scenario of a more measured approach on the part of the Fed: the Dow Jones rose 1.1% to 34030 points, while the Nasdaq Composite gained 2% to 12,166 points.
The release of US producer prices eased fears about inflation: expected flat from February, they contracted 0.5% in March sequentially and rose only 2.7 % on an annual basis.
These figures therefore showed a lull in inflationary pressures, which should allow the Fed to be a little more patient with regard to its monetary policy, which is always encouraging from the point of view of the equity markets.
At the same time, registrations for unemployment benefits increased by 11,000 last week, which is enough to foresee an upcoming moderation in wages and thus less pressure from them on inflation.
In stock news, Apple jumped 3.4% on recent comments from Credit Suisse and Canaccord Genuity, both of which raised their price targets for the tech firm’s stock.
Another heavyweight in the sector, Netflix climbed 4.6% in the hope of good surprises next Tuesday, on the occasion of the presentation of the results of the video streaming platform for the first quarter.
Delta Airlines, on the other hand, fell 1.1% despite the Atlanta airline’s return to profits in its first quarter of 2023, as well as the confirmation with confidence of its annual forecast.
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