Wall Street returns to positive with Nasdaq in recovery
The New York Stock Exchange (NYSE) returned to the positive field on Thursday (May 13), with investors digesting the recovery of the labor market, while looking for price hikes that could strangle the recovery.
In the end, the Dow Jones rose 1.29% to 34,021. The S&P 500 rose 1.22% to 4,112. The Nasdaq rose 0.72% to 13,124. The VIX index fell 4.46%.
Fear of rising inflation hammered Wall Street after consumer prices sparked a sale of blue chip and technology stocks, raising new concerns about Covid-19’s return.
Consumer prices rose faster than expected to 4.2% last month. Excluding food and energy, prices rose 0.9% in April and accumulated an increase of 3.0% in the year. Today, producer prices have also risen, up 4.1% last month and out of the 3.8% estimate.
Meanwhile, the Payroll data, which was released on Friday (07/05), raised expectations for initial claims for unemployment benefits, which fell and were close to March 14 last year and before the pandemic was declared. of coronavirus.
The hacker attack over the weekend weighed on gas price performance across the country. However, Colonial Pipeline – operator of the country’s largest gas pipeline network – said yesterday that it was already restarting service to the East Coast. The company reportedly paid $5 million in cryptocurrencies to hackers.