US MARKET / Wall Street with inflation data before a weak start | News

NEW YORK (Dow Jones) – Wall Street remains trapped between inflation and Friday’s interest rate hikes. The interest rate hikes announced the previous day by the European Central Bank had a negative impact. But now domestic development is clearly in the spotlight and is clearly undermining the stock futures market, which now completes a weak spot in the spot trading. The inflationary weakness of the US stock market continues.

US consumer prices in May rose more than expected both for the month and for the year. Core inflation is also above market forecasts. The data will probably influence the considerations at the US Federal Reserve meeting next week regarding the future path of interest rates. They do not indicate a peak in inflation and suggest that additional interest rate hikes by the US Federal Reserve are likely to be priced-in in the markets.

“We believe the market is not yet convinced that the core price peaks are behind us and that they will soon weaken significantly,” said investment strategist Edward Smith of Rathbone Investment Management ahead of the data release. However, given the data, it now seems more than doubtful whether inflation has already peaked.

The prospect of further increases in US interest rates supports the dollar. The dollar index rose by 0.6 percent. In the bond market, yields rise on the short end. Traders speculate that key interest rates will rise in the short term, but inflation may fall again in the longer term. There is little going on with gold and earth today.

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Among the individual stocks, Meta Platforms is seeing an increase of 1 percent prior to its launch. Facebook is clearly reviewing its commitment to pay for messages on its own platform. The company could thus save the millions of dollars it currently sends to publishers.

Disney titles have yet to respond to personality. As a result of an unexpected reorganization, the company fired Peter Rice, its TV director, just months after the contract was renewed, according to people familiar with the case. Meanwhile, Susan Arnold, chairman of the board, reiterated support for CEO Bob Chapek, who is under pressure from investors, workers and politicians as the company’s share price has almost halved this year and the company is mired in political controversy in a large country. was involved.

Docusigna’s titles drop by 25.2 percent. The manufacturer of electronic signature software reports a slowdown in growth in the first quarter. The company also cut back on hiring plans. Net profit for the first quarter was below analysts’ expectations.

Stitch Fix shares are down 15.2 percent, a stylist struggles with consumer reluctance to buy and will slay 330 jobs. Losses are getting worse. Vail resorts, on the other hand, grew 6 percent. The ski area operator reports on rising profits and sales after the end of the corona protection. Rent the Runway shares rose 7.7 percent. after the e-commerce platform doubled its sales.

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US bonds

Term Profitability Bp to VT Profitability VT +/- Bp YTD

2 years 2.92 +11.7 2.80 218.6

5 years 3.11 +3.2 3.08 184.7

7 years 3.09 +0.4 3.09 165.0

10 years 3.04 -0.3 3.04 153.2

30 years old 3.12 -4.4 3.16 122.1

FOREX last +/-% Thu 10:00 17:31% YTD

EUR / USD 1.0552 -0.6% 1.0698 1.0738 -7.2%

EUR / JPY 141.16 -1.1% 142.86 143.78 + 7.9%

EUR / CHF 1.0387 -0.2% 1.0481 1.0467 + 0.1%

0.8500 EUR / GBP + 0.0% 0.8563 0.8559 + 1.2%

USD / JPY 133.85 -0.4% 133.46 133.88 + 16.3%

GBP / USD 1.2411 -0.7% 1.2495 1.2547 -8.3%

USD / CNH (offshore) 6.7132 + 0.2% 6.6923 6.6899 + 5.6%

Bitcoin

BTC / USD 29 710.10 -1.3% 30 506.34 30 459.14 -35.7%

ROHL last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 121.85 121.51 + 0.3% 0.34 + 67.4%

Brent / ICE 123.79 123.07 + 0.6% 0.72 + 64.1%

METALS last day before +/-% +/- USD% YTD

Gold (spot) 1,843.89 1,847.91 -0.2% -4.02 + 0.8%

Silver (Spot) 21.72 21.69 + 0.1% +0.03 -6.8%

Platinum (Spot) 973.36 975.34 -0.2% -1.98 + 0.3%

The future of copper 4.33 4.38 -1.2% -0.05 -2.5%

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Contact the author: maerkte.de@dowjones.com

DJG / DJN / flf / hab

(END) Dow Jones Newswires

June 10, 2022 09:01 ET (1:01 PM GMT)

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