US Stock Exchanges Closed Lower on Thursday
At the end of trading in New York, the Dow was calculated at 43,914 points, a minus of 0.5 percent compared to the previous trading day.
Minutes earlier, the broader S&P 500 was calculated at around 6,050 points, a minus of 0.5 percent, and the technology Nasdaq was calculated at around 21,615 points, a minus of 0.7 percent for the Nasdaq 100.
After the inflation data from the previous day had boosted the hopes of investors that the US Federal Reserve would cut interest rates at its next meeting, new data on the development of wholesale prices raised some doubts. The producer price index (PPI) rose by 3 percent in November compared to the previous year, following 2.4 percent in October. Compared to the previous month, prices rose by 0.4 percent, following 0.2 percent in October. This means that inflation is still significantly above expectations. The Fed could see this as a sign that inflation may not be tamed as quickly as expected.
The European common currency was weaker on Thursday evening: one euro cost 1.0470 US dollars, and one US dollar was worth 0.9551 euros.
The gold price fell significantly, with 2,680 US dollars paid per fine ounce in the evening (-1.4 percent), which is equivalent to 82.31 euros per gram.
Meanwhile, the oil price rose slightly: a barrel of Brent, the North Sea type, cost around 22:00 German time on Thursday evening at 73.53 US dollars, which was a cent more than at the end of the previous trading day.