Stock market today: Wall Street opens modestly higher but still headed for a loss in August

NEW YORK — Stocks are opening modestly higher on Wall Street, on track to end a mostly miserable August on an up note. The S&P 500 was up 0.2% in early Thursday. It’s still on track for its first monthly loss since February. The Dow rose 165 points, or 0.5%. The Nasdaq composite was up 0.2%. Treasury yields were holding relatively steady. The government reported that the measure of inflation that’s closely tracked by the Federal Reserve remained low last month.

The Fed has raised interest rates 11 times since March of 2021 in an attempt to stifle inflation. Higher rates help to cool the economy and slow price growth, but analysts hope not so much as to tip the economy into recession. In equities trading, Dollar General fell more than 16% in premarket after the discount retailer missed Wall Street's sales and profit targets and slashed its outlook for the rest of the year.

In Europe, annual inflation held steady in August as food prices raced ahead of falling fuel costs, but there was no clarity about whether the European Central Bank will pause its record series of interest rate hikes. Chinese economic growth slid to 0.8% over the previous quarter in the three months ending June from the January-March quarter’s 2.2%. Exports have contracted and retail spending is weak.

Canada Canada Latest News, Canada Canada 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 ends higher, chipping away at losses for AugustNEW YORK (AP) — Stocks closed modestly higher on Wall Street, chipping away at the market’s losses for August. Treasury yields fell Wednesday after some weaker-than expected readings on the U.S. economy and job market. The S&P 500 rose 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street rises following updates on consumer confidence, job openingsNEW YORK — Technology companies led a broad stock market rally Tuesday after two economic reports raised hopes on Wall Street that the economy is cooling enough for the Federal Reserve to pause hiking interest rates. The S&P 500 rose 1.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian shares boosted by Wall Street rise on consumer confidence and jobsTOKYO (AP) — Asian shares rose Wednesday, boosted by a Wall Street rally that came on positive reports on consumer confidence and job openings. Japan's benchmark Nikkei 225 added 0.3% in afternoon trading to 32,312.75. South Korea's Kospi rose 0.4% to 2,563.37. Hong Kong's Hang Seng gained 0.5% to 18,574.12, while the Shanghai Composite inched up 0.1% to 3,139.28. Australia's S&P/ASX 200 jumped 1.2% to 7,297.70, after the Australian Bureau of Statistics reported the monthly Consumer Price Index
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock futures mixed ahead of key PCE inflation data: Stock market news todayDow futures rose 120 points, buoyed by Salesforce gains, amid muted trading on the other gauges with the Fed's preferred inflation data on deck.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »