Wall Street is weakening on inflation concerns

LIMAPAGI – At the close of trading on Tuesday (Wednesday morning WIB), a weakening of Wall Street was observed. The three main indices failed to strengthen as investors continued to try to gauge inflation trends.

The Dow Jones Industrial Average lost 81.52 points, or 0.24 percent, to settle at 34,312.46 points. The S&P 500 lost 8.92 points, or 0.21 percent, and ended at 4,188.13 points. The Nasdaq Composite Index fell 4.00 points, or 0.03 percent, to close at 13,657.17 points.

Six of the 11 main sectors in the S&P 500 ended in the red, with Energy and Utilities falling the most at 2.04 and 1.18 percent, respectively.

Meanwhile, the industry Consumer’s discretion thus the top performing group with an increase of 0.33 percent.

Airlines’ shares rose after United Airlines and United Airlines released air traffic forecasts and ticket sales forecasts. Their shares recorded an increase of 1.50 percent and 3.59 percent respectively.

Boeing gained 1.39 percent after aircraft leasing company SMBC Aviation Capital agreed to purchase 14 more 737 MAX jets.

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