The New York stock market closed mixed on the 14th (local time) with the rise in the US consumer price index (CPI) exceeding the market in January. On this day, the stock market went up and down throughout the day, with the reaction that the price indicator was ‘avoided the worst’ and the concern that ‘the price warning sound has grown’.

The Nasdaq index closed at 11,960.15, up 68.36 points (0.57%) thanks to Tesla and Nvidia’s surges of 7.51% and 5.43%, respectively. The Dow Jones 30 Industrial Average closed at 34,089.27, down 156.66 points (0.46%) from the battlefield, and the Standard & Poor’s (S&P) 500 Index closed at 4136.13, down 1.16 points (0.03%).

The US CPI increase rate in January was 6.4% year-on-year, higher than the market expectation (6.2%), and 0.5% month-on-month, which was in line with the market expectation, but jumped significantly compared to December (0.1%). The CPI increase rate of 0.5% compared to the previous month is the highest figure in the past three months. However, the atmosphere that ‘the worst has been avoided’ spread in that commodity prices are still on a downward trend, such as used car prices, which the market was concerned about at the beginning of the market, appearing on a downward trend.

The problem is that concerns have grown that the US Federal Reserve may raise the benchmark interest rate until June. As a result, six-month Treasury bonds rose to 5.022%, exceeding 5% for the first time since July 2007. The two-year Treasury yield, which is sensitive to the Fed rate, also exceeded 4.6%. Patrick Harker, president of the Federal Reserve Bank of Philadelphia (Fed), said on the same day that the benchmark interest rate should be raised above 5%, saying, “Inflation is not coming down quickly.”

Meanwhile, on this day, Nvidia rose more than 5% as Nvidia’s high-performance semiconductors drew attention due to the expansion of artificial intelligence (AI) competition. Bank of America (BofA) raised its price target for Nvidia from $215 to $255. Tesla closed the market at $209.25, a 7.51% jump, as the news that George Soros tripled his stake in Tesla in the fourth quarter of last year and the new car price hike became known.

Airbnb’s fourth quarter (October-December) revenue rose 24% year-on-year to $1.9 billion, up 24% year-on-year ( $1.86 billion).

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Source: Donga