On Tuesday’s stock market session, Meta rose 3.4% while the Dow fell due to concerns about higher inflation data.
By Tuesday, 13:19 ET, the S&P 500 benchmark was up by 0.31% to a total of 3,994,50 basis points. The Nasdaq composite was up by 0.58% to a total estimation of 11,533.50 basis points. Meta platforms were among the top scorers in today’s stock market session, jumping higher by 3.4%. Meta officials announce that they will join the next race in the artificially intelligent sector. Meta is moving to generate its own AI products. Apple shares rose by 0,58% and Tesla failed and fell by 0,44%. AMC Entertainment, on the other hand, shocked the world by jumping 15% on Tuesday and 22% on Monday. AMC stock ended the 2022 year by posting an 85% year-over-year decline.
The Dow Jones Fetire composite was down 0.30 percent ahead of hot inflation and interest rate hike concerns.
After a strong rally in January, the economic cycle in the U.S. stock market slowed down from gains to losses. Wall Street heads for its worst monthly performance in the new year, driven by macroeconomic factors including hot inflation data, corporate earnings, and U.S. housing price data.
Concerns about rising interest rates as a result of rate hikes by the United States and European Central Banks have hampered corporations’ ability to outperform market expectations.
Arguably, February is the most volatile month this year for wall street main indexes. Furthermore, high oil prices and the threat of a global supply chain shortage are looming.
Mrates strongly believes that Saudi Arabia will increase its oil prices starting in April, a move that goes against the U.S. oil price cut decision. Russia remains a significant player in the energy and oil sectors, which has been affecting global oil market prices for the past year due to existing economic sanctions and bans.
Meanwhile, crude oil prices in the United States have been slightly higher for the entire month, with the WTI currently up 1,93% to $77 per barrel. Brent oil prices were up 1.72% to $83,47 per barrel.
Gold prices skyrocketed this month compared to their final price by the end of December 2022. The yellow metal price rose by 0.58% to $1838 per ounce as of 13:19 ET (New York time).
Elsewhere, Spain and France reported that inflation in higher regions is peaking again. Inflationary pressures are rising in the Eurozone, and the European Central Bank will raise interest rates by half a percentage point at its next meeting.
Market experts are betting that the combat giant’s inflation will take more than it should, especially in Europe.
In the United States, FED officials anticipate at least five more quarter-point interest rate hikes beginning with the next interest rate hike meeting.
For now, investors will turn their attention to the U.S oil inventories and the released data by the American Petroleum institute.