Published • loading... • Updated
Wall Street holds near its record following the latest weak update on the US economy
Treasury yields held steady as investors weighed a weaker retail sales report and rising oil prices after tanker attacks in the Strait of Hormuz.
- Wall Street hovered near records Friday after the market reached all-time highs Thursday, though The Dow Jones Industrial Average slipped 0.1% while Nasdaq futures rose 0.1%.
- Inflation cooling in July alongside declining oil prices drove Thursday's record highs; Federal Reserve officials could hold off on raising interest rates if inflation remains in check.
- Consumers have become increasingly careful with spending as more income goes toward groceries and gasoline, while Treasury yields held steady after shoppers spent less last month than before.
- Reddit stock surged more than 12% before the bell, joining the S&P 500 next week, while Applied Materials slumped after second-quarter performance fell short of investor expectations.
- Brent crude climbed 24 cents to $87.31 per barrel while gasoline prices rose to $4.08, as energy markets remain volatile with fighting continuing in the Middle East near the Strait of Hormuz.
Insights by Ground AI
26 Articles
26 Articles
The Washington Post+24 Reposted by 24 other sources
Wall Street holds near its record following the latest weak update on the US economy
U.S. stocks are drifting around their all-time high following the latest report on the economy to come in surprisingly weak
·Washington, United States
Read Full ArticleCoverage Details
Total News Sources26
Leaning Left7Leaning Right3Center14Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
58% Center
L 29%
C 58%
13%
Factuality
To view factuality data please Upgrade to Premium
