US30 Slides Due to US CPI Temp!

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The US30 index traded lower following a mixed reading of US inflation data in January.


This weakness was reflected by the decline of the Dow Jones Industrial which closed 0.46% lower at 34,089.27 in the New York session.


The US stock market also gave a volatile reaction after data showed consumer prices fell more slowly than expected.


The US consumer price index (CPI) rose 6.4% year-on-year in January from 6.5% the previous month, but missed expectations for a 6.2% rise.



Despite the decline, but the market sees the Federal Reserve (Fed) may continue to raise interest rates or leave them high for some time.


This concern caused investors to fail to take advantage of the positive news by Boeing Co that signed an agreement with Air India to provide 220 of its passenger planes. Boeing shares jumped 1.3% to the highest level in more than a year.


Coca-Cola Co fell 1.7% even though its full-year profit forecast for 2022 was stronger than expected.


Meanwhile in extended trade, Airbnb and TripAdvisor both jumped 10% following better-than-expected quarterly earnings.


As a result, it benefited the Nasdaq to finish more positive at 11,960.15, while the S&P 500 lost 0.03% to end the session at 4,163.13.

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