new York Wall Street investors regain confidence after new data on US inflation. The Dow Jones index of blue chips is up 0.9 percent during the session, while the broader S&P 500 and the Nasdaq index are up 0.6 percent. At the start, the most important indices were still in the red.
US inflation for goods and services fell to 6.5 percent in December from 7.1 percent in November. This value was expected in advance. Core inflation, which excludes energy and food prices, was 5.7 percent.
“As pleasing as the inflation trend may look, it will no longer provide a positive impetus for the stock exchanges,” said portfolio manager Thomas Altmann from asset manager QC Partners. The significant decline has already been fully priced into the prices. “That’s why I now expect to take profits along the lines of ‘buy the rumour, sell the fact’.”
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