Stock market today: Wall Street ticks higher in early trading, led again by Big Tech

NEW YORK — Wall Street is ticking higher in early trading, on track for its first back-to-back gain in what’s been a miserable August. The S&P 500 was up 0.3% early Tuesday, coming off a gain powered by Big Tech stocks. The Dow was little changed and the Nasdaq composite was up 0.6%. Stocks have struggled this month as yields shot higher in the bond market. The yield on the 10-year Treasury was holding steady, a day after reaching its highest level since 2007.

Upward pressure on prices has eased significantly this year, even though consumer inflation accelerated in July to 3.2% from the previous month’s 3%. That's down from last year’s peak above 9% but more than the Fed’s 2% target. In corporate news, Macy's reported a loss of $22 million, or 8 cents per share, in its most recent quarter. Adjusted for a non-cash settlement charge related to pension obligations, earnings for the latest quarter were 26 cents per share. Like other retailers, Macy's saw revenue decline, to $5.28 billion from $5.83 billion from a year ago. Its shares fell 3.5% in premarket.

Shares in Dick's Sporting Goods tumbled 19% after the retailer badly missed Wall Street's earnings targets and cut its full-year profit outlook, citing worries over theft at its stores.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street holds firmer after three-week slide as Big Tech stocks reboundNEW YORK (AP) — Wall Street closed mixed, holding a bit firmer following its three-week losing streak. The S&P 500 rose 0.7% Monday as gains for Tesla, Microsoft and other Big Tech stocks lifted the index.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street opens higher, clawing back some of August's lossesNEW YORK (AP) — Wall Street is ticking higher to claw back a bit of its deep losses for August so far. The S&P 500 was up 0.3% in early trading Monday, coming off its third losing week in a row. The Dow rose 21 points and the Nasdaq composite was up 0.4%. The relatively quiet trading followed a mixed performance for stock markets worldwide. The week’s main event for markets is likely to be a speech on Friday by Federal Reserve Chair Jerome Powell. The Jackson Hole, Wyoming, setting has been the
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street opens higher, clawing back some of August's lossesNEW YORK (AP) — Wall Street is ticking higher to claw back a bit of its deep losses for August so far. The S&P 500 was up 0.3% in early trading Monday, coming off its third losing week in a row.
Source: SooToday - 🏆 8. / 85 Read more »