New York stock market opened with mixed movement

The S&P 500 index rose 0.10 percent to 4,706.21 points and the Nasdaq index rose 0.30 percent to 16,029.8 points. Indices, which rose to new …

The S&P 500 index rose 0.10 percent to 4,706.21 points and the Nasdaq index rose 0.30 percent to 16,029.8 points.

Indices, which rose to new heights yesterday with optimism regarding the $1 trillion infrastructure package approved by the US President Joe Biden in the House of Representatives, followed a mixed course at the opening today.

According to the data released today in the USA, producer prices in the country increased in line with expectations in October. While the Producer Price Index (PPI) increased by 0.6 percent on a monthly basis in October, following a course in line with the market expectations, on an annual basis, it continued its record high rise by increasing 8.6 percent, as it was in September.

Stating that producer prices also showed a solid increase in October, analysts noted that the increase in question shows that high inflation may continue for a while amid the problems in the supply chain related to the new type of coronavirus (Kovid-19) epidemic.

Analysts stated that investors are waiting for the October inflation data to be announced tomorrow in the US.

On the other hand, the US industrial giant General Electric (GE) announced that it will split into 3 companies focusing on the aviation, health and energy sectors. After the company’s announcement, GE’s shares gained close to 7 percent.

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