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US equity futures traded slightly higher on Wednesday early as stocks continued their recent decline, even after new data showed that inflation rose at a slower pace than economists expected in the first quarter. ‘August.
Stocks of this article
$ 34577.57
-292.06 (-0.84%)
$ 15037.75873
-67.82 (-0.45%)
On Wall Street, the S&P 500 lost 0.6% to 4,433.05, giving up the previous day’s rise after the government reported that consumer prices rose 0.3 in August % with respect to the previous month.
The 11 reference sectors ended in red. Banks, energy stocks and industrial and communications companies were one of the main sweepers of the index.
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The Dow Jones Industrial Average fell 0.8% to 34,577.57. The Nasdaq compound fell 0.5% to 15,037.76.
Investors worry that higher inflation could put the Federal Reserve and other central banks under pressure to end easy credit and other stimulus that will help raise stock prices. The Fed has said it believes the rise in U.S. consumer inflation was temporary and that interest rates will remain low until a recovery is established.
U.S. equities traded slightly higher early Wednesday as stocks continued their recent retreat, even after new data showed inflation rose at a slower pace. than economists expected in August. (Photo by AP / Richard Drew)
Meanwhile, Asian stock markets followed Wall Street down on Wednesday after US inflation was lower than expected in unease over the impact of the spread of the delta variant of the coronavirus.
Shanghai, Tokyo, Hong Kong and Sydney withdrew and abandoned the previous day’s gains.
The Wall Street S&P 500 benchmark index fell as consumer price data rose at a slower pace than in August.
Shares traded in Hong Kong on Macau-based casino operators, a gaming enclave and a former Portuguese colony in southern China, fell on reports of possible crackdown on the industry.
Authorities plan an industry review before renewing casino licenses next year, according to reports.
Wynn Macau lost 28%, Sands China fell 30%, MGM China fell 24% and local operator SJM Entertainment fell 21%.
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More generally, investor optimism about the deployment of coronavirus vaccines and central bank support for global economies competes with anxiety about the impact of the delta variant and anti-disease measures on consumers and businesses.
“The initial optimism of a lower-than-expected impression of the U.S. CPI was quickly dashed by global growth concerns,” IG’s Yeap Jun Rong said in a report.
Shanghai’s composite index lost 0.4% to 3,648.67 and Tokyo’s Nikkei 225 sank 0.5% to 30,511.71. Hang Seng in Hong Kong fell 1.8% to 25,046.42.
Kospi in Seoul gained 0.2% to 3,153.40, while Sydney’s S&P-ASX 200 retreated 0.3% to 7,417.00. Markets in New Zealand and Southeast Asia declined.
In energy markets, the U.S. benchmark crude rose 51 cents to $ 70.97 a barrel in e-commerce on the New York Mercantile Exchange. The contract added 1 cent on Tuesday to $ 70.46. Brent crude, the base price for international oils, advanced 50 cents to $ 74.10 a barrel in London. It gained 9 cents the day before to $ 73.60 a barrel.
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The dollar fell to 109.50 yen from 109.63 yen. The euro remained unchanged at $ 1.1804.