(New York) The New York Stock Exchange was down slightly shortly after opening on Thursday, easily digesting the announcement of a rebound in inflation, with operators remaining convinced that the rise in prices will continue to moderate at middle term.
Around 10:05 a.m. ET, the Dow Jones was down 0.29%, the NASDAQ index was down 0.15% and the broader S index was down 0.15%.
The CPI price index showed a jump in inflation in December, to 0.3% month-on-month, compared to just 0.1% in November. The figure surprised economists, who had expected 0.2%.
Year-on-year, prices rose 3.4%, more than the 3.2% expected.
“These data will reassure the Fed (American central bank) in the idea that monetary policy must remain firm for some time to come,” commented Rubeela Farooqi of High Frequency Economics in a note.
The bond market received this publication calmly. The yield on 2-year US government bonds, the most representative of operators’ expectations regarding the trajectory of US policy, thus stood at 4.34%, compared to 4.35% the day before at the close.
“These figures are not enough to change expectations of a Fed starting to lower rates in the first half or to scare investors,” reacted Dan North of Allianz Trade Americas.
As for stocks, they also showed firmness.
“Posture is about continuing to move forward, no matter what the obstacles,” according to CFRA’s Sam Stovall. “The market wants to set new records” for the major indices “and is convinced that even if we are going to experience some jolts on the inflation side, the trend will remain towards deceleration. »
After the authorization, published Wednesday after market trading, for the listing of a new bitcoin investment fund, called ETF, the cryptocurrency market was in full swing.
This new product offers all investors the opportunity to gain exposure to digital currencies while keeping their funds in dollars and being able to withdraw at any time.
It is widely considered a major turning point for the wider adoption of cryptocurrencies.
Among the 11 variations of this ETF which have received the green light from the American financial markets authority (SEC) are several Wall Street giants such as BlackRock, Fidelity and Franklin Templeton.
They started trading on Thursday at the opening.
Initially hesitant after Wednesday’s announcement, bitcoin regained momentum and gained 6.44%, to $48,037 per unit. It even briefly rose to $49,021, a first in more than two years.
The few listed players in the cryptocurrency sector nevertheless experienced varying fortunes, like the exchange platform Coinbase (-2.54%), the “miner” Marathon Digital Holdings (0.94%) or Bitcoin Depot (1.89%), which operates ATMs converting dollars into bitcoins or vice versa.
Elsewhere on the stock market, Chesapeake Energy Corporation (4.76%) advanced after the announcement of its upcoming merger with its competitor Southwestern Energy (-0.53%), which will unite two of the ten largest natural gas producers in the United States. -United.
Citigroup was sanctioned (-3.04%) after revealing that its fourth quarter results would be weighed down by $3.3 billion in exceptional charges and $1.3 billion in provisions.
These charges are linked in particular to the depreciation of the Argentine peso as well as an exceptional contribution to the American deposit guarantee fund.
Netflix climbed (2.29%) after advertising manager Amy Reinhard told the specialist magazine Variety that the platform now had more than 23 million subscribers to its advertising offering.