Home Business Wall Street starts up, new signs of easing inflationary pressures. Disney jumps 8%

Wall Street starts up, new signs of easing inflationary pressures. Disney jumps 8%

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Bullish start for Wall Street which appreciates the new sign of easing of inflationary pressures. In New York, the Dow Jones index rose 0.6%, while the S&P 500 and Nasdaq gained 0.66% and 0.75 percent, respectively.

After the greater-than-expected slowdown recorded yesterday by US inflation in July, judged positive but not sufficient by the Fed, the data on producer prices for July are drawing another sigh of relief. In particular, on a monthly basis the figure showed a decrease of 0.5% in July against the previous + 1.1%, with the Bloomberg consensus expecting a growth of 0.2%. On an annual basis, the producer price index, on the other hand, showed a + 9.8% and compares with the + 11.3% of the previous survey (Bloomberg consensus at 10.4% y / y).

Updates also from the labor market. In the week ending August 6, the number of US workers applying for unemployment benefits for the first time stood at 262,000. The figure is lower than the Bloomberg consensus which expected + 265 thousand, but higher than the past reading of + 248 thousand (revised figure from + 260 thousand).

At the corporate level, Disney is highlighting at the start of negotiations, which leaps by more than 8 percent. The big US entertainment company recorded better than expected results both in terms of revenues and profits. Disney reported adjusted earnings per share of $ 1.09, up 36% from the previous year. Operating income more than doubled in the parks, experiences and products division to $ 3.6 billion. The streaming giant also announced that total Disney + subscriptions rose in fiscal third quarter, beating expectations.

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