US EditionMost US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady
Amazon's 2.9% stock gain helped offset losses for 70% of S&P 500 stocks as U.S. wholesale inflation rose 3.3% year-over-year, shaking rate cut expectations, analysts said.
- Following a disappointing inflation report revealing a 3.3% year-over-year rise in wholesale prices last month, most U.S. stocks declined during Thursday’s trading session.
- The higher-than-expected inflation data forced traders to reassess a near-certain Fed rate cut next month, reducing the chance to about 7.2% that rates hold steady in September.
- The reassessment prompted a rise in bond yields, with the 10-year Treasury yield increasing from 4.20% to 4.26%, while the Russell 2000, which tracks smaller U.S. companies, fell sharply by 1.5%.
- Chris Larkin, managing director at E-Trade from Morgan Stanley, indicated that while a September rate reduction is still possible, recent developments could introduce some uncertainty about it.
- Despite broad losses, gains in Amazon's stock and other Big Tech firms helped keep the S&P 500 nearly unchanged, suggesting cautious investor confidence amid mixed economic signals.
70 Articles
70 Articles
The main Wall Street barometers occupied mixed positions, while the operators were analyzing inflation data to the producer in the United States, which increased more than expected.This slowed the optimism among investors and left the Dow Jones with a decrease of 0.02 percent, in the 44,000 911.26 integers, Nasdaq with 21 thousand 710.67 points yielded 0.01 percent, contrary to the S&P 500 with 0.03 percent more, which was placed in the 6 thousa…
Most U.S. stocks fall after disappointing inflation update, but Big Tech keeps Wall Street steady
Most stocks fell on Wall Street following a disappointing update on inflation. But gains for Amazon and other influential Big Tech companies helped mask the losses on Thursday, and the S&P 500 edged up by less than 0.1% to set…
Market Moves: Inflation Data Shakes Wall Street, Global Trends Emerge
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