Jul. Jump in Wholesale Inflation Slows Stock Surge
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Most US stocks fall after a 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.
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Investors were blindsided by July’s hot PPI inflation reading. Why stocks mostly shrugged it off.
Earlier this week, falling bond yields and growing expectations for aggressive Federal Reserve interest-rate cuts in the months ahead helped spark a rotation away from what had been working in the U.S.
For investors, the July CPI print was just right, as it raised the odds of a rate cut at the next Fed meeting while showing that inflation isn't spiraling.
The U.S. stock market on Tuesday rose toward records after data suggested inflation in July was a touch better than economists expected.
Global stocks edged lower on Thursday, with equities on Wall Street ending flat, while U.S. Treasury yields rose after market expectations for Federal Reserve interest rate cuts were shaken by surprisingly strong inflation data.
Factory-gate prices rose by a much stronger-than-expected 0.9% in July
Stock futures flat as S&P 500 and Nasdaq set records. Investors eye inflation data and Fed policy shift. Here's what we're watching.
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Investor's Business Daily on MSNStock Market Rallies Amid Shifts Despite Hot Inflation; Amazon, CoreWeave In Focus: Weekly Review
The stock market had a strong week despite hot inflation, but with shifts underneath. Amazon jumped on a grocery delivery push.
The S&P 500 dipped 0.3% after flirting with its all-time high, which was set two weeks ago, earlier in the day. The Dow Jones Industrial Average dropped 200 points, or 0.5%, while the Nasdaq composite shaved 0.3% off its own record.
And while Deere reported higher-than-expected earnings of $4.75 per share and revenue of $10.4 billion, management now expects net income for the full fiscal year to be $5 billion at the midpoint – down from a previous forecast of $5.15 billion.
The S&P 500 index rose to a record high Tuesday as July inflation data raised Wall Street’s hopes for rate cuts. The S&P 500 closed 1.1 percent higher, rising more than 70 points to