US stocks traded mixed on Thursday, with the S&P 500 holding near its record high as investors weighed the two-way pull of cooling inflation and a Federal Reserve pullback on interest rate cuts. The S&P 500 edged up 0.3% after the benchmark topped 5,400 to close at a fresh all-time high. The Nasdaq Composite popped 0.6% on the heels of taking out a record of its own, as tech stocks led the broader charge higher. But the Dow Jones Industrial Average headed lower, down 0.3%.
Traders are still pricing in two rate cuts starting in September, according to the CME FedWatch tool. Read more: How does the labor market affect inflation? The producer price index for May fell in what appears to be the latest sign that inflation is easing. The reading dropped 0.2% month-over-month after rising 0.5% in April.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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: Nasdaq, S&P 500 turn higher ahead of huge week on Wall StreetInvestors are looking ahead to the Fed's policy decision and key inflation data later in the week as they scale back rate-cut bets.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nvidia inches higher as S&P 500, Nasdaq hold near recordsGrowing conviction for Fed rate cuts has buoyed megacap techs, injecting life into stocks more broadly.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: S&P 500, Nasdaq hit record highs as Nvidia leads tech rallyBets on Fed rate cuts are tentatively rising as investors weigh signs of a softer labor market and cooling economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nasdaq, S&P 500 pop as Nvidia galvanizes stocksNvidia's blockbuster earnings have fired up optimism for AI's ability to fuel growth, eclipsing rate-hike worries for now.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nasdaq, S&P 500 touch new record as Nvidia galvanizes stocksNvidia's blockbuster earnings have fired up optimism for AI's ability to fuel growth, eclipsing rate-hike worries for now.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nasdaq, S&P 500 hit new record as Nvidia galvanizes stocksNvidia's blockbuster earnings have fired up optimism for AI's ability to fuel growth, eclipsing rate-hike worries for now.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »