Wall Street indices trade mixed after producer price data

The three main stock indices of the US market have mixed performances on Wednesday. Wall Street It looks mixed after the publication of higher-than-expected producer price data, while consumer inflation is expected.

The index Dow Jonesmade up of the shares of 30 industrial giants, rises 0.33% to a level of 29,335.68 points, while the S&P 500 of 500 components yields a marginal 0.03% to 3,587.70 points. The Nasdaq it falls 0.31% to a level of 10,393.40 units.

The Labor Department’s producer price index rose 0.4% in September, higher than the 0.2% expected by analysts. Investors hope that tomorrow’s consumer inflation data may give clues about the following increases in fed rates.

“Services, food and energy are the components of the producer price index that most drove the rise, a sign of how complicated and long this process of reducing inflation to the Fed’s target levels will be,” he explained in a eToro report.

By sectors, mixed performance is also observed. Within the Dow Jones, 20 of 30 components are trading at a profit. The behaviors of Coca-Cola stand out, with 2.46%; JP Morgan, with 1.78%; United Health, with 1.51%, and J&J, with 1.08 percent.

The mixed market behavior also comes in a wait-and-see context, ahead of the start of the third-quarter reporting season on Friday. The largest banks will release their results that could give clues about the health of the economy.

jose.rivera@eleconomista.mx