Wall Street is mixed following another discouraging inflation report and a recovery for tech stocks
Tech gains helped offset hotter inflation data that pushed Treasury yields higher and weakened hopes for Federal Reserve rate cuts.
- Wall Street traded mixed on Wednesday as investors processed discouraging wholesale inflation data and a tech sector rebound, with the Dow Jones Industrial Average dropping 194 points while the Nasdaq composite rose 0.2%.
- Wholesale price increases accelerated beyond expectations last month, according to government data released Wednesday, dampening hopes for Federal Reserve interest rate cuts this year as officials monitor inflation.
- Tech stocks clawed back losses from Tuesday's steep sell-off; Intel gained 3.1% after a 6.8% decline, Qualcomm rose 4% following an 11.5% drop, and Micron Technology added 4.3%.
- Oil prices remain elevated near $107.60 per barrel as the war with Iran continues to restrict tanker traffic through the Strait of Hormuz, keeping crude supplies constrained.
- President Donald Trump arrived in Beijing on Wednesday to meet with President Xi Jinping, accompanied by Tesla CEO Elon Musk and Nvidia chief Jensen Huang to discuss artificial intelligence chip shipments.
42 Articles
42 Articles
Daily Journal
Tech carries Wall Street to records, even as most stocks fall after discouraging inflation data
A rebound for technology stocks led Wall Street to records, even though the majority of U.S. stocks fell following another discouraging update on inflation. The S&P 500 rose 0.6% Wednesday and topped its prior all-time high set early this week.…
Sask Today
Western InvestorWall Street holds steady despite more discouraging inflation data as tech stocks recover
Wall Street is holding relatively steady after technology stocks rebounded and oil prices slowed their gains. The S&P 500 was nearly unchanged Wednesday, close to its all-time high.
Wall Street is mixed following another discouraging inflation report and a recovery for tech stocks
Wall Street is drifting in mixed trading on Wednesday after another discouraging update on inflation and a recovery for technology stocks.The S&P 500 slipped 0.1% in early trading, still near its all-time high set at the start of the week. The Dow Jones Industrial Average was down 235 points, or 0.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.2% higher.Gains for tech stocks helped support the market, like Micron Technology’s 4…
Dow Dips 67, Nasdaq Climbs 314, S&P 500 Adds 43
NEW YORK (AP) — A rebound for technology stocks led Wall Street to records Wednesday, even though the majority of U.S. stocks fell following another discouraging update on inflation. The S&P 500 rose 0.6% and topped its prior all-time high set at the start of the week. The Dow Jones Industrial Average dipped 67 points, or 0.1%, while the Nasdaq composite set its own record after climbing 1.2%. Gains for tech stocks led the way, like Micron Techn…
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