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US STOCKS-Wall St Ends up with Growth Stocks, but Inflation Fears Linger

Reuters2022-06-07

* Amazon.com, other megacap stocks gain

* All eyes on U.S. CPI report later this week

* Didi surges on report China to conclude regulatory probe

NEW YORK, June 6 (Reuters) - U.S. stocks ended slightly higher on Monday with gains in Amazon.com and other mega-cap growth shares offset by persistent worries over inflation.

Shares of Amazon.com Inc rose in the stock's first day of trading after adjusting to a 20-for-1 split.

A solid jobs report on Friday lowered hopes of a pause in the Federal Reserve's aggressive policy-tightening plan.

Investors are keeping a close eye on inflation data, with a U.S. consumer price index report on Friday expected to show still-high inflation. U.S. Treasury yields rose on Monday.

"There's been a push-pull in the markets now for a while," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.

The jobs report was evidence that "the economy is still in OK shape," he said. But "with inflation running kind of high and commodity prices still rising and putting in new all-time highs, maybe that peak of inflation is still in that ethereal future."

Helping sentiment were easing regulatory crackdowns in China and signs in parts of China of a return to more normal activity after the country's biggest COVID-19 outbreak in two years.

According to preliminary data, the S&P 500 gained 12.38 points, or 0.30%, to end at 4,120.92 points, while the Nasdaq Composite gained 53.25 points, or 0.44%, to 12,059.82. The Dow Jones Industrial Average rose 21.75 points, or 0.07%, to 32,921.45.

Twitter Inc shares slipped after billionaire Elon Musk said he might walk away from his buyout offer if the social media company fails to provide data on spam and fake accounts.

Didi Global Inc jumped after a report that Chinese regulators were preparing as early as this week to allow the ride-hailing firm's mobile app back on domestic app stores.

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Comment103

  • MrHuattt
    ·2022-06-07
    Itu
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  • HBONG
    ·2022-06-07
    please like, thks
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  • W1tcw0
    ·2022-06-07
    Ok
    Reply
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  • William C
    ·2022-06-07
    like 
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  • Jeffso
    ·2022-06-07
    Ok
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  • flyingfish28
    ·2022-06-07
    Pls like 
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  • Road1Warrior
    ·2022-06-07
    didi, what happen to the account issues now?
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  • DarkFate
    ·2022-06-07
    Like 
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  • pal22
    ·2022-06-07
    👍
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  • Bash
    ·2022-06-07
    Like pls, thank you
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  • LimLS
    ·2022-06-07
    This week is Fed blackout period so nobody from Fed will come out to talk. Most of the focus is now on the CPI numbers on Friday. Chances of it being greatly lower than last month is low due to the rising crude oil prices during May. Everyone now is just hoping the CPI number to be just slightly below last month, so they can interpret this as the inflation "showing"signs of reaching its peak and slowing down. If this is the case, there will be some room for more rebound. The worse case scenario will be CPI numbers exceed last month and this means Fed will have to be more aggressive with it's hike which is not positive for the market. For me, I will sit at one side and observe. No need to risk and place a bet now. Especially when I see very limited room even if rebound. 
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  • Timtan85
    ·2022-06-07
    Like oks
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  • SSVC
    ·2022-06-07
    K
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  • Syww
    ·2022-06-07
    [Strong] 
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  • V K
    ·2022-06-07
    Pls like tyvm[Happy] 
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  • blessed_1
    ·2022-06-07
    Ok
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  • StarGalaxy
    ·2022-06-07
    Ok
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  • phongy 45
    ·2022-06-07
    Awesome
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  • JLSE
    ·2022-06-07
    👌👌👌
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  • Thomas9413
    ·2022-06-07
    Great 
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