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Wall Street today: Dow Jones, S&P 500, Nasdaq retreat after hotter-than-expected wholesale inflation data
US stock indices retreated on Thursday after a hotter-than-expected wholesale inflation data dampened investor hopes of interest rate cuts by the Federal Reserve this year. A Labor Department report showed the Producer Price Index (PPI) rose 0.9% in July on a month-on-month basis, much greater than Wall Street estimates.
Dow Jones Industrial Average stumbles after PPI inflation soars
The Dow Jones Industrial Average (DJIA) declined on Thursday, ending a two-day bullish run and shedding around 200 points. Equities took a hit after United States (US) Producer Price Index (PPI) inflation rose much faster than expected in July, knocking back bets of three Federal Reserve (Fed) interest rate cuts before the end of the year.
The stock market has been extremely quiet on Wednesday afternoon, but there's a key level to watch for the Dow Jones ...
The consumer price index for July will come out on Tuesday, and Wall Street expects a 0.2% monthly overall increase and a 0.3 ...
Economists expect the US headline inflation to have grown at a faster pace of 2.8% on year, against a 2.7% increase in June.
Investors tend to watch the consumer-price index for insight into how prices are affected by inflation. And when investors ...
The blue chip Dow Jones Industrial Average gained 1.0% to 44,922 on strength in UnitedHealth Group ( UNH, +3.9%) and Nike ( NKE, +3.1%). The IPO market remains hot as evidenced by today's market debut ...
NASDAQ has also moved away from session highs amid profit-taking. Advanced Micro Devices, which was up by 5.4%, was among the ...
Investor's Business Daily on MSN4h
Dow Jones Futures: Amazon Offsets Hot Inflation; Applied Materials Dives Late
Dow Jones futures rose overnight, while S&P 500 futures were flat and Nasdaq futures fell slightly. Applied MaterialsAMAT and ...
However, the Dow Jones is a relatively narrow financial index, meaning its performance may not be indicative of the overall stock market. So let's take a look at the broader S&P 500 (^GSPC 2.13%).
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