Asian Markets Higher, Europe Trades In Green Following US Inflation Data - Global Markets Today While US Was Sleeping
Portfolio Pulse from Akanksha Bakshi
US markets ended mixed on Wednesday, September 13, reacting to higher-than-expected August inflation data. The annual inflation rate rose to 3.7%, surpassing market expectations of 3.6%. Most S&P 500 sectors ended positively, with utilities and consumer discretionary stocks posting the largest gains. Asian markets and European markets traded in green. Commodities saw mixed results, with Crude Oil and Natural Gas gaining, while Gold and Silver traded lower.
September 14, 2023 | 10:26 am
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POSITIVE IMPACT
S&P 500 experienced a 0.12% increase, closing at 4,467.44.
The higher-than-expected inflation data led to a mixed reaction in the market, with most sectors of the S&P 500 ending positively. This could potentially lead to a short-term increase in the SPY ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Gold was trading lower by 0.25% at $1,927.65.
The higher-than-expected inflation data led to a decrease in the price of gold. This could potentially lead to a short-term decrease in the GLD ETF.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The U.S. Dollar Index was down 0.02% to 104.74.
The higher-than-expected inflation data led to a slight decrease in the U.S. Dollar Index. This could potentially lead to a short-term decrease in the UUP ETF.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70