The Dow continues to rise today. Recently, it has soared more than 200 points, following the lower-than-expected Producer Price Index (PPI). including rising unemployment numbers in the US This will reduce pressure on the Federal Reserve (Fed) to accelerate interest rates.
As of 11:59 p.m. Thai time, the Dow Jones Industrial Average was 36,495.15, up 204.83, or 0.56%.
delta share price Airlines jumped more than 3 percent after it reported better-than-expected fourth-quarter earnings and revenue, helped by a recovery in the aviation industry. After being affected by the lockdown measures to prevent the spread of COVID-19
The Labor Department said its PPI, a measure of inflation based on producer spending, jumped 9.7 percent in December year on year. This is the highest level since the data was collected in November 2010. But it was lower than analysts’ estimates of 9.8 percent after a 9.6 percent gain in November.
On a monthly basis, the PPI rose 0.2% in December, below analysts’ forecast of 0.4%, after gaining 0.8% in November.
The core PPI, which excludes food and energy, rose 0.4% in December from month to month. That was 0.5% lower than analysts’ expectations after a 0.7% gain in November.
The number of first-time claims for unemployment benefits rose 23,000 to 230,000 last week, the Labor Department said. which is the highest level since November 2021 and the analysts are expected to drop to 200,000.
The number of first-time claims for unemployment benefits exceeded 215,000, the weekly average in the pre-COVID-19 pandemic in the United States.
Meanwhile, the market is keeping an eye on the earnings release of listed companies this week. Big banks such as JPMorgan Chase, Citigroup and Wells Fargo will release their results tomorrow.