Small declines in the US, the center of attention Yellen and inflation – Onet.pl

At the close the Dow Jones Industrial fell 0.29 percent. and I stood at 18,232.82 points.

S & amp; P 500 lost 0.22 percent. and amounted to 2,126.06 points.

Nasdaq Comp. It fell by 0.03 per cent. and amounted to 5,089.36 points.

Federal Reserve President Janet Yellen expects that US interest rates will be raised this year. In her view, a series of hikes will be gradual.

“If the situation in the economy will be further improved what to I expect, I think that this year would be advisable first to raise interest rates, “- said Yellen on Friday.

At the same time the Fed chairman said that although it looks better and better labor market in the US, his condition is still not fully satisfactory.

Yellen emphasized that the US economy should return to moderate growth after a weak result in the first quarter.

Earlier, he met market inflation reading in the US CPI for April. Consumer prices in the US rose last month by 0.1 percent. mom. At the same time, core inflation, which is an indicator that does not include fuel and food prices, rose by 0.3 percent. mom and it was the strongest increase in this index since January 2013.

In response to the data on inflation in US dollar appreciated strongly, and the EUR / USD approached during the session to 1.1, and this is its lowest level in a month. Also increased the profitability of US government bonds.

“The market is changing slightly their expectations and expect a little earlier rate hikes rates. The higher increase in inflation suggests a slightly earlier move the Fed “- rated Andrew Ferraro, analitik Strategic Wealth Partners

His speech He was also head of the European Central Bank, Mario Draghi. President of the ECB assessed that the situation in the euro area economy has improved and its prospects are now better than seven years.

The focus remains Greece. On Friday took place in Riga meeting Greek Prime Minister Alexis Ciprasa with German Chancellor Angela Merkel and French President Francois Hollande.

Merkel said that in Riga together with French President Ciprasowi offered help and support. He reserved, however, that the completion of negotiations can take place only after the Athens “very, very intensive work”. Cipras on Friday morning in a Greek television said in turn that he is convinced that “we will soon be able to develop a stable and lasting solution, without repeating the mistakes of the past.”