The U.S. stock market will open on Wednesday close to its previous day’s closing level. The Dow Jones, S&P 500 and Nasdaq remained very close to the previous day’s closing reading even a quarter after trading.
From a stock market perspective, the news front has been quiet for the past few days, and market movements have been moderate this week. The contrast to last week is significant. Last week, the U.S. stock market rose four days out of five and soared to new records. The background was a belief in large-scale state stimulus measures reinforced by the democratization of the Democrats.
Today, investors have digested comments from U.S. and European Central Bank policymakers, among others, as well as the recent inflation reading released in the U.S.
Member of the Governing Council of the European Central Bank Francois Villeroy from Galhau said the ECB’s policy would remain light for as long as necessary. From Fed James Bullard and Eric Rosengren in turn, signaling that tackling the economic impact of the interest rate crisis remains the central bank’s number one priority, and that the central bank would not be reducing its purchases of securities in the near future.
According to statistics released today in the United States, the country’s inflation accelerated to 1.4 percent in December from 1.2 percent a year earlier, while economists predicted it to accelerate to 1.3 percent. U.S. inflation has remained below about 2 percent a year. The last time inflation was above 2 percent was in February last year.
Bottom consumer prices rose by 1.6 per cent year-on-year in December, in line with both the pace of change in November and economists’ expectations.
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