The AEX price opened today with a slight decline and is currently at 911.31 points. This means that the stock market index is still close to its all-time high and in principle no one has gone overboard. Today promises to be an important day, with new inflation data from the United States.
New inflation data from America
During the first months of 2024, US inflation rose faster than expected. As a result, the Federal Reserve had to continue to postpone its interest rate cuts, which has not been good for the prices of financial assets.
Only in Europe the stock markets are currently not paying any attention to this. The Amsterdam AEX reached a new all-time high yesterday and is currently in a very strong period.
Why? Because, unlike the American Federal Reserve, the European Central Bank (ECB) is considering interest rate cuts.
The ECB expects to implement the first interest rate cut in June and that seems to support the AEX price and that of other European stock exchanges.
All eyes on meme stocks
For now, all eyes on the market are once again focused on so-called meme stocks. Following the return of Roaring Kitty to Twitter, the man behind the GameStop short squeeze, the game retailer’s stock shot up 130 percent.
In after-trading, the share rose by 31 percent, opening at a price of $40 for the first time since August 2022.
The fact that GameStop shares are rising so much and the memecoins followed suit is generally not a very good sign for the market. These types of investments often do well at times when the market is around a peak.
Tomorrow we will receive the most important inflation data for this week from America with the consumer price index (CPI). In that respect, we are looking forward to a few exciting days for the AEX price.
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Source: https://newsbit.nl/aex-koers-licht-gedaald-focus-op-amerikaanse-inflatie/
