The main indices of the New York stock exchanges rose mainly on Wednesday as investors digested fresh inflation data, first results and the issuance of a US Federal Reserve protocol.
Fears of accelerating inflation have weighed on the stock market in recent days as energy prices continue to rise and business-to-business supply chains continue to be disrupted. Investors are closely monitoring whether this will have an impact on the third-quarter results of American companies.
The US Federal Reserve today released the minutes of its September meeting of the Open Market Committee. They show that the Fed will ease its massive securities buying program, perhaps as early as mid-November.
“Participants in the meeting were of the opinion that if a decision is made at the next meeting to lighten the purchasing programs, the monthly lightening could start either in mid-November or in mid-December,” the minutes read.
Central bankers are likely to start easing the buying program by reducing government bond purchases by $ 10 billion a month and mortgage-backed securities purchases by $ 5 billion a month.
“Equity investors need to take into account the uncertainty surrounding central bank operations and performance,” Antonio Cavarero finance company Generali Insurance Asset Managementilta commented on The Wall Street.
The US consumer price index rose 5.4 per cent year-on-year in September and 0.4 per cent month-on-month. Analysts predicted a 5.3 percent increase from a year ago and a 0.3 percent increase from the previous month.
The bottom-up consumer price index, adjusted for food and energy prices, rose by four per cent year-on-year, as expected.
The largest bank in the United States JPMorgan Chase & the world’s largest treasurer Blackrock today announced their third quarter results. JPMorgan exceeded analysts ’earnings expectations as well as revenue expectations with its revenue of $ 30.44 billion, and earnings per share were $ 3.74. The company’s share still fell 2.6 percent.
Blackrock also exceeded analysts ’expectations with its $ 5 billion revenue, while analysts expected $ 4.82 billion in revenue. Earnings per share were $ 10.95, while analysts posted earnings of $ 9.39. Blackrock’s share price rose 3.8 percent.
Carrier Delta Airlines reported for the first time since the start of the pandemic about a profitable quarter. However, the company warned that increased fuel costs would threaten its profitability in the future. Delta Air Lines’ share price fell 5.8 percent.
The euro strengthened against the US dollar after the stock markets closed. The 10-year interest rate on U.S. government debt was declining after the stock markets closed and was quoted at 1.537 percent.
The Dow Jones index was out of direction (0.00%), the S&P 500 index rose 0.3 percent and the Nasdaq index rose 0.7 percent.
Source: Arvopaperi by www.arvopaperi.fi.
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