Stocks drifted to a mixed close near the all-time highs they set last week. The S&P 500 index edged up 0.2% Wednesday. The Nasdaq composite rose 0.5%, and the Dow Jones Industrial Average edged up less than 0.1%. The majority of stocks in the S&P 500 fell. FedEx helped offset the losses with a gain of 15.5%. The package carrier reported results for its latest quarter that easily beat forecasts.
Amazon.com rose 4.1%, surpassing $2 trillion in market value for the first time. The rise in the e-commerce giant's stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. FedEx helped offset the losses with a gain of 15%. The package carrier reported results for its latest quarter that easily beat forecasts. Rivian soared 21.5% after Volkswagen said it would invest up to $5 billion in the struggling maker of electric vehicles.
The Fed is trying to tame inflation back to its 2% target, but the rate has been sticky. The PCE has been hovering just below 3% for months. The better known consumer price index has been hovering around 3% throughout 2024, though it was as high as 9.1% in the middle of 2022.
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Stock market today: Nvidia climbs to Wall Street's mountaintop as stocks broadly driftNEW YORK (AP) — U.S. stocks edged up to more records following the latest signal that the economy’s growth may be slowing without cratering, while Nvidia continued its rocket ride upward to become Wall Street’s most valuable company.
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Stock market today: Wall Street slips in early trading, edging further below last week's recordsStocks are off to a sluggish start on Wall Street, pulling major indexes further below the all-time highs they set last week. The S&P 500 index slipped 0.2% in the first few minutes of trading Wednesday. The Nasdaq composite gave back 0.
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Stock market today: Wall Street mixed as red-hot chipmaker Nvidia claws back some recent lossesMarkets on Wall Street were quietly mixed early Tuesday following a mixed session a day earlier that saw a third straight decline for red-hot chipmaker...
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Stock market today: Wall Street drifts as Nvidia loses some more momentumNEW YORK (AP) — U.S. stocks drifted to a quiet close of the week, as Nvidia’s stock continued to cool from its startling, supernova run. The S&P 500 slipped 0.2% Friday, though it’s still near the all-time high it set on Tuesday.
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