NEW YORK.- Wall Street It opened this Tuesday in the red when its main indices collapsed following it was announced that inflation in January was higher than expected by analysts.
Higher-than-expected consumer inflation data boosted bond yields United States Treasury, ending market speculation regarding imminent interest rate cuts.
Given what was announced Dow Jones Industrials, Its main indicator fell 1.08%.
Wall Street opening
The Dow Jones Industrial Average fell 98.21 points, or 0.25%, at the start of the session, settling at 38,699.17.
At 10:05 in the morning it stood at 38,699.37, while at 1:00 p.m. it stood at 38,197.53.
The S&P 500 opened lower by 53.90 points, or 1.07%, trading at 4,967.94.
The Nasdaq Composite, on which large technology companies are listed, plummeted 343.67 points or 2.16%, opening at 15,598.88.
What affects the markets today?
The inflation rate in USA fell once more in January, three tenths, to 3.1%, which is in line with the objectives of the Federal Reserve (Fed) and its plans to start lowering rates sometime this year if prices continue to fall.
The US Bureau of Labor Statistics reported this Tuesday that in monthly terms consumer prices increased three tenths compared to December.
While core inflation, a key data that analyzes the Fed to make its decisions on interest rates, it remained at 3.9% year-on-year.
The inflation data was not well received by the market as it was higher than analysts expected and sent Treasury bond yields up to 4.261%.
They also raised doubts regarding the possibility of the central bank making several interest rate cuts this year.
By sectors
This morning the American beverage company Coca Cola published its 2023 results, when it obtained a profit of $10,714 million in 2023, 12% more than the previous year.
At the opening of the stock market, its shares rose 1.19%.
The airline JetBlue Airways rose 10% following activist investor Carl Icahn announced that it had acquired an almost 10% stake in the company.
The toy maker Hasbro fell almost 3% at the opening following its quarterly results did not exceed analysts’ expectations.
Peso falls this February 13
After the publication of the data January inflation in the United Stateswhich came out above what economists expected, markets have discounted the chances of the Fed cutting interest rates in March or May.
The main indices collapsed before the announcement, which also affected the Mexican peso.
The Mexican stock exchange (BMV) falls 0.50% to settle at 57,133 points.
The impact has also been felt by the Mexican peso with the price of the dollar rising close to 1%.
At 11:20 a.m., time of the Mexico Citythe exchange rate, from dollar to Mexican peso, is located at 17.22 units, meaning that the national currency has a depreciation of 0.95% and returns to levels not seen since last January 23.
It may interest you: In 2024 the worst January slope in seven years, in Mexico
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2024-04-13 20:35:34
