By Christiana Shaodon
Investing.com-Inflation, shminflation. Traders rejected higher-than-expected inflation data to boost stock prices on Thursday.
That was the data that everyone was paying attention to this week. The Ministry of Labor said Thursday that its consumer price index rose 0.6% last month after rising 0.9% in April. The rise in consumer prices in May raised the CPI from 4.2% in April to 5%, the highest level since the 1980s. Investors are in the position that the Fed is in the transit stage.
According to The New York Times, Starbucks (NASDAQ :), like many other industries (Chips!), Seems to be in short supply (are you sure about temporary inflation?).
GameStop Co., Ltd. (NYSE :) After announcing that it would sell millions more shares to make the most of individual investors, it fell 25% and continued the meme.
Another late summer of the week. People who have good things
Here are three things that can affect tomorrow’s market:
1. Let’s chat
Leaders of the G7 countries will start a meeting in Cornwall, England. President Joe Biden will visit Britain for the first time during his administration. He and his counterparts are expected to discuss the economic recovery from the pandemic.
2. sentimental feelings
After today’s long-awaited inflation rate, Friday’s release of economic data is clearly a less sexy reading of consumer sentiment. The first printed matter in June was 84.2, which is expected to rise slightly from the previous 82.9. The number will be released at 10 am (Greenwich Mean Time 1400).
3. Another record?
US stocks appear to end the week with another high. Investors shrugged off the latest signs of inflation and set new records, with the Nasdaq approaching Thursday’s April highs.
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Three things Investing.com pays attention to
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