Investors are preparing for new US President Donald Trump’s new duties next week
Wall Street shares retreated early Friday, as a key indicator of underlying inflation was higher than expected, while investors are preparing for the new US President Donald Trump’s new duties next week.
About 10 minutes after the commencement of transactions, the Dow Jones Industrial Average fell 0.2%, and the wider S&P 500 index fell 0.2%. The Nasdaq Composite technology index lost 0.4%.
The financial data was the ones that influenced the market early Friday. The PCE price index (PCE), without unstable food and energy prices, increased more than expected last month by 0.4% compared to January.
Compared to last year, the PCE index, which is an inflation index to which the US Federal Bank pays attention to, increased 2.8%, which was slightly higher than analysts had predicted.
In addition, consumer spending was “quite weak”, as they were burdened by bad weather in January. Consumer expenditure data is one of the first to reflect the period when Trump was in power.
In addition, investors are also monitoring the implementation of countermeasures to Trump’s duties on April 2.
Source: KYPE