Wall Street falls in the market attentive to news on inflation and rates

All three major US stock market indices are trading in the red on Monday. The prices in Wall Street fell after a green open, extending a day’s decline marked by jobs data that supported bets on rate hikes.

main index Dow Jonesmade up of the shares of 30 industrial giants, yields 0.32% to 29,203.27 units, while the S&P 500 yields 0.76% to 3,611.82 units and the Nasdaq Compositewith a high technological component, lost 1.22% to 10,522.09 points.

The indices opened positive, but were dragged down by the Nasdaq after the semiconductor industry reported that it will be affected by the restriction of technology exports to China. Stocks like Nvidia, Qualcomm and AMD fell nearly 3 percent.

To this is added that the president of the Chicago Federal Reserve, Charles Evans, gave a speech about the central bank’s intention to continue with rate adjustments and although he stated that inflation can go down without triggering unemployment, the nervousness persisted.

Investors await expectant inflation data that will be released on Thursday in the United States and a new wave of quarterly results, in which it is expected to see what effect the economic situation is having on the accounts of the large issuers.

“If inflation does not go down, the door is left open to new upward adjustments. According to the latest data and in terms of 12 months, things are far from improving,” explained analyst Javier Molina, from the trading platform, in a report. of eToro shares.

Among others, this week some of the main US banks such as JPMorgan Chase, Wells Fargo, Morgan Stanley or Citigroup will publish their quarterly results, as well as giants from other sectors such as PepsiCo or the airline Delta Airlines.

jose.rivera@eleconomista.mx