US stocks trading slightly higher hours before Wednesday’s opening bell


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The government reported that consumer prices rose 0.3% in August compared to the previous month.

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US Equity Futures Stocks traded slightly higher early Wednesday as fresh data showed stocks continued their recent decline even after inflation climbed at a slower pace than economists in August.

Stocks in this article

Me: DJI dow jones average
-292.06 (-0.84%)
SP500 S&P 500
-25.68 (-0.57%)
me: comp NASDAQ Composite Index
-67.82 (-0.45%)

On Wall Street, the S&P 500 fell 0.6% to 4,443.05, excluding the previous day’s gain, after the government reported a 0.3% increase in consumer prices in August from the previous month.


11 sectors of the benchmark all closed in the red. Banks, energy stocks and industrial and communications companies were among the biggest losers in the index.

What is your rise exactly? Inflation says something about it.

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The Dow Jones Industrial Average fell 0.8% to 34,577.57. The Nasdaq Composite fell 0.5% to 15,037.76.

Investors worry that higher inflation could lead to the Federal Reserve and other central banks feeling pressure to shut down easier loans and other incentives that are helping to prop up stock prices. The Fed has said it believes the rise in US consumer inflation was temporary and that interest rates will be kept low until a correction occurs.

Meanwhile, Asian stock markets followed Wall Street on Wednesday after US inflation turned lower than expected amid unease about the impact of the spread of the delta version of the coronavirus.

Shanghai, Tokyo, Hong Kong and Sydney all retreated, giving up the previous day’s gains.

Wall Street’s benchmark S&P 500 index fell in August despite data showing the slowest rise in consumer prices in seven months.

Hong Kong-traded shares in gambling enclaves in southern China and casino operators based in the former Portuguese colony of Macau, fell on reports of a possible crackdown on the industry.

Reports say the authorities plan to review the industry before casino licenses are renewed next year.

Wynn Macau lost 28%, Sands China 30%, MGM China 24% and local operator SJM Entertainment 21%.

Inflation ‘here to stay’: billionaire supermarket owner

Broadly speaking, investor optimism about the rollout of coronavirus vaccines and central bank support for global economies is competing with concerns about the impact of the delta variant and anti-disease measures on consumers and businesses.

“The initial optimism from the less-than-expected print on the US CPI was quickly tempered by global growth concerns,” IG’s Yep Jun Rong said in a report.

The Shanghai Composite Index fell 0.4% to 3,648.67 and the Nikkei 225 in Tokyo fell 0.5% to 30,511.71. The Hang Seng in Hong Kong fell 1.8% to 25,046.42.

The Kospi in Seoul rose 0.2% to 3,153.40, while Sydney’s S&P-ASX 200 retreated 0.3% to 7,417.00. New Zealand and Southeast Asian markets declined.

In energy markets, benchmark US crude rose 51 cents to $70.97 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 1 percent to $70.46 on Tuesday. International oil price base Brent crude rose 50 cents to $74.10 a barrel in London. It rose 9 cents to $73.60 a barrel on the previous day.

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The dollar fell from 109.63 yen to 109.50 Japanese yen. The euro remained unchanged at $1.1804.

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