Wall Street starts the session in negative territory. Tesla falls nearly 4%
Wall Street started the session in negative territory, moments after the US inflation figures for December were released.
The Dow Jones Industrial Average fell 0.18% for 33,913.90 points, while the S&P 500 is trading at the waterline (-0.08%) vs 3966.49 splatter. The Nasdaq Technology Index fell 0.35% 10891.35 splatter.
The US inflation rate fell to 6.5% in December on an annual basis, down 0.6 percentage points from November, according to data released Thursday.
On a series basis, the consumer price index decreased 0.1% from the previous month, the largest decline since April 2020.
On an annual basis, the inflation value is the lowest since October 2021, after it was in line with economists’ expectations.
Investors are still digesting the drop in the number of jobless claims last week. In all, the number of applications decreased to 205 thousand, when, according to Reuters, economists indicated 215 thousand.
Among the major market moves, shares of American Airlines rose 6.26% after the airline warned the market that it expects fourth-quarter earnings and revenue to be better-than-expected due to strong holiday demand from Christmas.
In turn, Walt Disney added 2.19%, after announcing the name of Mark Parker to the “chairman” of the company’s “board of directors”.
On the losses side, Tesla fell 3.82%, after Bloomberg reported that it had postponed its factory expansion plan in Shanghai, China.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.