October 25, 2021

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Wall Street JPMorgan opens more on data and US inflation

Wall Street JPMorgan opens more on data and US inflation

ANP
Wednesday, 13 October 2021 13:59

NEW YORK (AP) – Stock markets in New York opened higher on Wednesday. Investors on Wall Street processed quarterly results, among other things, the large U.S. bank JPMorgan Chase. There were also figures on inflation in the United States, which rose further in September. Inflation plays a key role in the US Federal Reserve’s Federal Reserve interest rate policy.

Shortly after the opening, the Dow Jones industrial average rose 0.1 percent to 34,418. The broader S&P 500 was up 0.3 percent at 4,364 points, and technology transfer Nasdaq was up 0.6 percent at 14,552 points.

JPMorgan Chase, the largest bank in the United States, reported higher profits in the last quarter than last year. The company made a lot of money by advising on mergers, acquisitions and IPOs. As the stock fell 1.4 percent, investors could have expected even more. The quarterly publications of major industry players such as Citigroup, Bank of America, Goldman Sachs and Wells Fargo will also be released this weekend.

Swelling

Blackrock, the largest property manager, opened the books and was raised 3 percent. Airline Delta Airlines has closed a profitable quarter for the first time since the start of the Corona crisis. However, the company warned of higher fuel prices, which could lead to red figures in the fourth quarter. Delta lost 3.2 percent.

Inflation in the United States rose to 5.4 percent in September from 5.3 percent in August. This is partly due to fuel and food prices. In order to curb rising inflation, the central bank has the option of reducing corona support measures for the economy. The central bank has already indicated that it intends to gradually launch its monthly bond purchase program this year.

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Apple (minus 0.7 percent) can also count on attention. The technology team is reportedly planning to reduce production of the new iPhone 13 due to a global chip shortage. Apple wants to reduce production of chip companies Broadcom and Texas Instruments to 10 million units.