US tech stocks gain in mixed global moves as inflation lingers

Oct 27 - Global shares were mixed on Friday, with technology giants outperforming, while benchmark Treasury yields and the dollar saw little change as data confirmed U.S. inflation remained high, but in line with forecasts.

With spending seen cooling off in early 2024 as savings accumulated during the COVID pandemic run dry, most economists believe the Federal Reserve is done raising interest rates, though risks of a rate hike remain. Shares of Amazon.com advanced 7% after beating sales estimates, while Intel jumped 9.4% after the chipmaker signaled personal computer market rebounding from a quarters-long slump. Chevron fell about 6% after the oil major reported a drop in third-quarter profit.

SOFT LANDING? The yield on the 10-year U.S. Treasury, which moves inversely to the price of the debt security and functions as a benchmark for global borrowing costs, was little changed at 4.866% after crossing 5% earlier in the week. The Fed is widely expected to keep its funds rate in a range of 5.25%-5.5% next week, although Chair Jay Powell has said a strong economy and tight jobs market could warrant more rises.

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stock market news today: Nasdaq leads stock slide as Big Tech comes under pressureStocks are struggling under the weight of disappointing Big Tech earnings and rising bond yields.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market news today: Stocks clobbered as Nasdaq drops 2.5% amid Google's slideTreasury yields pushed higher, putting more pressure on already strained tech stocks.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market news today: Nasdaq, S&P 500 sink with earnings in driver's seatStocks are struggling under the weight of disappointing Big Tech earnings and rising bond yields.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market news today: Nasdaq futures sink with earnings in driver's seatStocks are struggling under the weight of disappointing Big Tech earnings and rising bond yields.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market news today: US futures rise as Amazon shines, key inflation data aheadThe update to PCE — the Fed's preferred inflation gauge — will set expectations around whether a rate hike is coming.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market news today: Futures rise as Amazon shines, inflation continues coolingThe Federal Reserve's preferred inflation metric showed prices continued to cool in September — a critical data point the Federal Reserve will consider as it...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »