US EditionStocks add a bit to their records on Wall Street
Technology and communication sectors led modest gains on Wall Street, offsetting losses in retail and health care amid mixed earnings and economic signals of slowing growth.
- On Thursday, stocks on Wall Street inched into record territory in afternoon trading as the S&P 500 rose 0.2%, the Nasdaq composite gained 0.5%, and the Dow Jones Industrial Average added 40 points, or 0.1%.
- The Commerce Department reported U.S. gross domestic product grew at a 3.3% annual pace in the April-June quarter, while Labor Department data show hiring slowed and unemployment claims fell last week.
- Tech and communications firms led gains as Broadcom rose 2.5%, Oracle was 2% higher and Alphabet Inc. gained 2.1%, while Nvidia Corporation fell 1.2% and Hormel Foods Corporation plunged 12.7%.
- Federal Reserve Chair Jerome Powell signaled last week that traders see an 85.3% chance of a quarter-point rate cut next month, while the 10-year Treasury yield slipped to 4.21% Wednesday.
- Economists project inflation at about 2.6% in July, and Friday will bring an update with the U.S. personal consumption expenditures index amid tariff-driven cost pressures on retailers.
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Winnipeg Free Press+37 Reposted by 37 other sources
Stocks add a bit to their records on Wall Street
Wall Street notched more milestones Thursday after gains in technology stocks helped push the market to another all-time high. The S&P 500 rose 0.3%, lifting the benchmark index to its second reco...
·Winnipeg, Canada
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Total News Sources39
Leaning Left7Leaning Right2Center23Last UpdatedBias Distribution72% Center
Bias Distribution
- 72% of the sources are Center
72% Center
L 22%
C 72%
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