(Reuters) – The S&P 500 and the Nasdaq ended up on Tuesday at Wall Street for the second consecutive day, supported by the figures of American inflation combined with the temporary customs duties between the United States and China announced on Monday.
The Dow Jones, however, finished in the red, weighed down by the United Health insurance giant (-17.79%), which announced the resignation of its general manager and the suspension of its annual forecasts. The larger Standard & Poor’s 500 took 42.36 points, or 0.72% to 5,886.55 points. The Nasdaq Composite advanced on its side of 301.74 points, or 1.61% to 19,010.085 points.
The Dow Jones index sold 0.64%, or 269.67 points, to 42,140.43 points.
On the front of economic data, consumer prices in the United States rebounded moderately in April, overall inflation increased by 0.2% last month after dropping by 0.1% in March. Economists interviewed by Reuters had anticipated an increase of 0.3%.
“The maintenance of yesterday’s advance is positive. There was nothing in the IPC to disturb it,” said Carol Schleif, chief market strategist at BMO Private Wealth in Minneapolis. The 90 -day break on customs duties arrives in time to allow retailers to import goods in order to constitute stocks for the purchases of the school year and the holiday season, added Carol Schleif.
Among the 11 main industrial sub-indexes of the S&P 500, technology has shot the game, while health was the biggest loser.
The S&P 500 and the NASDAQ have recovered the losses garnered since April 2, when US President Donald Trump announced large -scale reciprocal tariffs.
The agreement with China that followed and the right data on American inflation, offered the American Federal Reserve (Fed) more options in the conduct of its monetary policy.
Several intermediaries, including JP Morgan Chase, Barclays and Goldman Sachs, also adjusted their forecasts on the risk of recession on Tuesday to reflect a more favorable economic trajectory.
Several FED officials must express themselves this week, including its president Jerome Powell on Thursday.
At the values, the Coinbase Global cryptocurrency platform jumped 23.97% after announcing its integration into the S&P 500 on May 19.
More than 90% of S&P 500 companies have already published their quarterly results and the financial accounts of the American Walmart distribution giant will be scrutinized this week.
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(Written by Sinéad Carew in New York, Shashwat Chauhan and Pranav Kashyap in Bangalore; Kate Entringer)
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