Perplexity is spreading on Wall Street. How will the US Federal Reserve react to the modest fall in inflation? Strong gains from US retailers suggest the Fed will remain tightening.
Strong sales gains at US retailers have further fueled interest rate concerns on Wall Street and sent investors looking for direction. The Dow Jones Index of Standard Values and the broader S
US retail sales rose 3 percent month-on-month in January, the Commerce Department said an hour before the stock market opened. Economists had only expected an increase of 1.8 percent. "As long as demand remains strong, the US Federal Reserve will not end its tightening course," said Johannes Mayr, chief economist at asset manager Eyb
Investor concerns about interest rates weighed on oil prices. In oil, a decision by the US government to release more strategic oil reserves caused additional losses. The Brent variety from the North Sea and the US light oil WTI lost 0.06 and 0.58 percent to 85.33 and 78.6 dollars per barrel (159 liters).
In terms of individual values, the shares of the semiconductor manufacturer TSMC listed in the USA lost 5.32 percent. Earlier, Berkshire Hathaway -- the venture capital firm of star investor Warren Buffett -- slashed its stake in the Taiwanese company by 86.2 percent, according to documents filed with the Securities and Exchange Commission.
In turn, shares of Paramount Global rose 9.31 percent after Berkshire increased its stake in the TV and film company by almost 3 percent, according to the documents. AirBnB shares gained 13.35 percent after strong numbers, hitting their highest level since May last year. According to its own statements, the US room broker expects revenues of between 1.75 billion and 1.82 billion dollars in view of stable demand for travel. Analysts had previously assumed $1.69 billion.
Investors also jumped at gaming platform Roblox on increased user spending and a smaller-than-expected loss. The shares gained about 26.38 percent. Conversely, shares of Devon Energy fell 10.5 percent after the group missed market expectations with its quarterly profit. According to their own statements, the cold weather and higher costs had added to the oil producers.
