Stock market today: Wall Street shakes off a morning wipeout to end higher

NEW YORK — U.S. stock indexes stormed back from big early drops to finish higher, led by a handful of highly influential Big Tech companies. The S&P 500 gained 1.1% Wednesday after erasing a morning wipeout of 1.6%. A majority of the index’s stocks still finished lower for the day, but gains for Nvidia and other tech stocks were enough to drive it to a third straight gain and back within 2% of its all-time high set in July. The Dow Jones Industrial Average rose by 124 points, or 0.

The sharp see-saw trading, where the Nasdaq composite roared back from an earlier 1.4% slide, followed the government's latest update on inflation at the consumer level, which came in close to expectations. Overall inflation slowed to 2.5% in August from 2.9% in July, a touch better than expected. But prices rose more than expected from July into August when ignoring food and energy, and economists say that can be a better predictor of where inflation is heading.

Investors have a long history of being overly optimistic about how much and when the Fed will cut interest rates, only to send stock prices lower after being confronted with reality. Wall Street loves lower rates because they can goose the economy by making it cheaper for U.S. companies and households to borrow. Cuts also give boosts to investment prices.

Vera Bradley’s stock dropped 5.9% after the designer of handbags and the parent company of the Pura Vida brand reported weaker profit and revenue for the latest quarter than analysts expected. It pointed to “stubbornly persistent macro consumer headwinds.” On the winning side of the U.S. stock market were solar-energy companies, which are seen as doing better under a Democratic White House than a Republican one. First Solar jumped 14.4%.

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 opens higher after inflation report comes in better than expectedNEW YORK (AP) — U.S. stocks are rising, and Wall Street is relaxing a bit after the first of several highly anticipated reports on the economy this week came in better than expected. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street holds steady after an inflation report comes in as expectedNEW YORK (AP) — Wall Street is holding relatively steady after the latest update on inflation came in almost exactly as economists expected. The S&P 500 was up 0.1% in early trading Wednesday, coming off one of its best days of the year.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street gives back some of its gains as its rally loses momentumNEW YORK (AP) — Stocks are giving back some of their big gains from earlier in the week as Wall Street’s rally loses some steam. The S&P 500 was 0.3% lower early Friday and on track for its first drop in seven days.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street closes its best week of the year with some more gainsNEW YORK (AP) — U.S. stocks drifted higher as Wall Street coasted to the close of its best week since November. The S&P 500 rose 0.2% Friday, extending its winning streak to a seventh day. The Dow Jones Industrial Average rose 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street holds near records after an 8-day winning streakNEW YORK (AP) — U.S. stocks are holding near their record levels following an eight-day winning streak. The S&P 500 was down less than 0.1%. The Dow Jones Industrial Average fell 0.1%, and the Nasdaq composite slipped 0.1%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street rises after Target and other retailers top profit forecastsNEW YORK (AP) — U.S. stocks are opening higher after more big companies delivered profit reports that topped analysts’ expectations. The S&P 500 rose 0.2% in early Wednesday trading. The Dow Jones Industrial Average added 110 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »