NEW YORK, Feb 11 — Wall Street stocks were mixed early today near the conclusion of a volatile week dominated by generally solid earnings and worries over monetary policy following the latest inflation spike.
Major indices remain modestly positive for the week even after yesterday’s pullback when a jump in consumer prices was seen as boosting the odds of an accelerated Federal Reserve plan to lift interest rates.
Analysts at Goldman Sachs now project seven Fed interest hikes in 2022, up from the five they estimated previously.
About 25 minutes into trading, the Dow Jones Industrial Average was up 0.2 per cent at 35,327.46.
The broad-based S&P 500 gained 0.1 per cent to 4,508.42, while the tech-rich Nasdaq Composite Index dipped 0.1 per cent to 14,173.95.
Among individual companies, Expedia jumped 2.5 per cent as the travel company reported US$276 million in quarterly profits, compared with a US$412 million loss in the year-ago period.
The company said the impact of the latest Covid-19 outbreak “was less severe and of shorter duration than previous waves.” — AFP
