US stock indices are experiencing a session of widespread gains because consumers’ 12-month inflation expectations have moderated to 5.3%.
Wall Street is on track to sign its first week with a positive balance in June. Investors are leaning towards buying despite the fact that the most anticipated benchmark of the day, the University of Michigan consumer confidence index, has hit record lows since it began to be compiled in 1940.
However, the market has seen reason for optimism as consumers’ 12-month inflation expectations have moderated to 5.3%.
“Overall, sentiment is mixed. Consumers are going out and paying for ‘experiences,’ like travel, entertainment, beauty items, home essentials… But high inflation, particularly higher food and energy, is among the headwinds expected to limit discretionary spending in the near term,” said Terry Sandven, chief strategist at bank Wealth Management.
Despite the adverse factors facing the world’s leading economic power, US equities are going through a session where the red numbers among its main indicators are conspicuous by their absence. The S
The Nasdaq also rose another 2.3%, to 11,490 points. Meta, Facebook’s parent company, stands out as the most bullish value of the day among the big technology companies, gaining more than 5%. It is followed by Amazon, which is up almost 4%, and then, with earnings below 2%, Microsoft, Alphabet and Microsoft.
For its part, the Dow Jones rose 2% to 31,300 points. Salesforce, Boeing and Goldman Sachs lead the rises, while Verizon and UnitedHealth are the only stocks in the selective that suffer falls in the session.
The star sector of the day is none other than cruise ships, after Carnival Corporation has announced that its reservations have doubled compared to the first quarter. Its titles soar 11%, although profits are even higher at rivals Royal Caribbean and Norwegian Cruise, which are up more than 14%.
In the oil market, the West Texas barrel, a reference in the US, recovers 106 dollars, while the ounce of gold deflates below 1,830 dollars. For its part, the return on the US 10-year bond is once again above 3.1%.
