The U.S. New York Stock Exchange also started higher in May on news that the consumer price index’s growth rate slowed from the previous month.
As of 10:25 p.m. on the 11th (U.S. Eastern Time), the status of major indexes at the beginning of the market at the New York Stock Exchange (NYSE) is as follows.
The Standard & Poor’s (S&P) 500 index is 4,039.4, up △ 38.35 points (0.96%) from the previous day.
The NASDAQ 100 index is 12,404.7, up △ 58.85 points (0.48%) from the previous day.
The Dow Jones industrial index is 32,482.54, up △ 321.8 points (1%) from the previous day.
The Nasdaq Composite Index centered on technology stocks is 11,798.51, up △ 60.84 points (0.52%) from the previous day.
The Russell 2000 index, which reflects small and medium-sized stocks, rose △ 23.98 points (1.36%) to 1,782.8.
The CBOE VIX volatility index is 31.26, down ▽ 1.73 points (-5.24%) from the previous day.
The market for the top 10 stocks invested are 1. Tesla (TSLA) 800.22 (0.02%↑) 2. Apple (AAPL) 154.14 (-0.24%↓) 3. Nvidia (NVDA) 176.08 (0.07%↑) 4. Microsoft (MSFT) 268.25 (-0.46%↓) 5. Alphabet (GO23.81%QQ2.81%) ProzIt is the same as EARTH ETF (SOXL) 21.7 (2.89% ↑).
Investors watched the consumer price index (CPI) and government bond interest rates in April.
The CPI in April, announced by the U.S. Department of Labor, rose 8.3% from the same period last year, down from an 8.5% increase recorded in the previous month. However, the 8.1% increase, which was estimated by experts compiled by the Wall Street Journal, exceeded.
In April, the CPI rose 0.3 percent from the previous month, far below the previous month’s 1.2 percent increase, but it exceeded the market’s expectation of 0.2 percent increase.
Excluding volatile food and energy, the core CPI rose 0.6% in April from the previous month and 6.2% year-on-year. This exceeded both the market’s expectations of 0.4% and 6.0%.
Compared to the previous month’s 0.3% increase from the previous month recorded in March and a 6.5% increase from the previous year, the increase was higher than the previous month.
Interest rates on government bonds rose again on concerns that inflationary pressure was stronger than expected, and stock index futures fell. However, after the opening, the stock market remained volatile, rebounding again.
The two-year government bond rate, which is sensitive to the Federal Reserve’s monetary policy, soared to 2.74% by 12bp (=0.12% point), and the 10-year government bond rate rose to 3.08% by 8bp (=0.08% point).
The 10-year interest rate was traded near 2.91% just before the CPI announcement, but exceeded 3% immediately after the index was announced. Technology stocks are under downward pressure due to rising interest rates.
If inflation slows down more than expected, the Fed’s tightening strength is expected to strengthen. Some warned that the index could be evidence that the Fed is behind the trend in controlling inflation, which could increase the strength of the Fed’s tightening.
Shares of Coinbase, a cryptocurrency exchange, plunged more than 20% on news that losses expanded more than expected.
