The Market Movers | ASX 200 inches lower; Energy sector leading drag
A US Commerce Department report revealed that consumer prices rose 3.1 per cent in the twelvemonth to April, posting its largest annual gain since 1992, and comfortably surging past the Federal Reserve’s target of 2 per cent. Consumer spending, also surged at an 11.3 per cent annualised rate in the first quarter, positioning the US economy for strong growth as rising vaccination drive eases the pandemic’s grip. Intelligence software provider Nuix (ASX:NXL) hits record low on trimming FY revenue outlook. The company now expects the revenue for the twelvemonth to June 30 in the range of AU$173 million to AU$182 million, down from April’s forecast of AU$180 million to AU$185 million. Nuix cites uncertainties about expected license upgrades by existing customers and addition of new customers.
Moreover, Swiss growth numbers are also closely eyed. Switzerland – one of the richest countries in the world – is set to announce its March quarter gross domestic product Estimates. Besides, Retail sales numbers for Federal Republic of Germany testament also be an interesting ticker this calendar week. A measure of changes in sales of the German retail sector, it shows the performance of the retail sector in the short term. A key gauge for determining consumer sentiment and the spending, the German retail sales are likely to contract by 30 basis points.
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