Wall Street ended the session on a positive note, after a turnaround in technology, a day before the release of the
The Dow Jones Industrial Index rose 0.34% to 33,156.41 points, while the S&P 500 ended the red zone, after four sessions of losses, after rising 0.53% to 4,012.36 points.
In turn, the Nasdaq Technology Index rose 0.72% to 11,590.40 points. On Friday, the personal consumption expenditures (PCE) index for January will be released, which, according to economists interviewed by Bloomberg, is likely to reveal an acceleration in inflation last month.
On the other hand, investors were already digesting the quarterly figures from personal consumption expenditures, which are the Fed’s preferred indicator when it comes to inflation. The index was revised upwards and showed an increase in consumer prices of 3.7% compared to the third quarter and not 3.2% as previously announced.
Growth for the North American economy in the fourth quarter of 2022 was revised down to 2.7%, instead of the 2.9% initially reported, but unchanged from full-year growth, the business department noted Thursday. For Michael Shaul, CEO and “Chairman” of Marketfield Asset Management, investors are divided between enthusiasm for maintaining stability in the economy and concern that such stability could lead to the Federal Reserve tightening monetary policy further.
During the session, investors set their eyes on Nvidia shares, which ended the day up 14.02%, after the quarterly results came in above analyst expectations.
On the other hand, Netflix fell 3.35% after cutting prices for the streaming service in about 100 countries to fight competition.
Finally, Domino’s Pizza had its worst session since 2010, after falling 11.65%, after weak quarterly results, stemming from lower demand and delivery problems.
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