Economic data revealed this week points to accelerating inflation, but investors focus on the pandemic recovery.
The New York stock market continues to recover from the losses registered at the beginning of the week, starting this Friday’s session on a high. Fears of rising inflation remain, but advances in the health plan and encouraging corporate results offset and allow gains in the major U.S. indexes.
US import prices rose 0.7% last month, following a 1.4% rise in March. This rise in April was the latest sign of accelerating inflation as the economy reopened, after the consumer price index and the output price index also saw increases
Still, “the corporate reversal is strong enough to keep markets up,” Citi’s Robert Buckland signals to CNBC. In addition, the US health authorities have decided to lift the indoor mask requirement for people vaccinated against the new coronavirus, also brightening the health outlook.
In this context, the Dow Jones industrial gain 0.09% to 34,050.86 points and the S&P 500 advances 0.42% to 4,129.58 points. The Nasdaq tech starts higher gaining 1% to 13,255.65 points.
In the gains, highlights include those listed in the tech sector. Apple gains 1.31% to 126.61 dollars, Amazon rises 1.10% to 3,196.29 dollars and Microsoft advances 1.76% to 247.30 dollars.
