Stock market today: Wall Street ticks higher ahead of more testimony from Fed Chair Powell

NEW YORK — U.S. stocks are ticking higher, sending Wall Street toward more records. The S&P 500 was up 0.2% in early trading Wednesday. The Dow Jones Industrial Average was flat, and the Nasdaq composite was 0.4% higher. Big technology companies were leading the way again. A frenzy around artificial-intelligence technology has been a major reason the U.S.

In testimony Tuesday before the Senate Banking Committee, Fed chair Powell reiterated that inflation has eased notably in the past two years, though it exceeds the central bank’s 2% target. There’s a risk in the Fed moving to cut interest rates too late or too little, he said, warning that either scenario could end up weaking the economy and job market.The U.S. releases new data on consumer prices Thursday and economists believe that they eased to 3.1% in June from 3.3% in May.

Corporate earnings will start rolling out this week when Delta Air Lines reports second quarter results Thursday. LegalZoom shares tumbled more than 28% after the online legal services company slashed its 2024 revenue guidance and announced the departure of CEO Dan Wernikoff, who will be replaced by Chairman Jeffrey Stibel.

In Asian trading, the Japanese benchmark Nikkei 225 index closed at another record high gaining 0.6% to finish the session at 41,831.99. It also had a record close on Tuesday, and hit an all-time high of 41,889.16 during the day Wednesday.Investors have been snapping up technology-related shares as enthusiasm builds over the potential of artificial intelligence.

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 opens higher after inflation continues to easeNEW YORK (AP) — Stocks are edging higher in early trading on Wall Street and are heading for their fourth weekly gain in a row.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street inches higher ahead of inflation reportStocks inched higher on Wall Street as markets wait for a key report on inflation. The S&P 500 edged up 0.1% Thursday. The Nasdaq composite added 0.3%, and the Dow Jones Industrial Average rose 0.1%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street barely budges ahead of inflation reportNEW YORK (AP) — Stocks are barely budging in early trading on Wall Street as markets wait for a key report on inflation. The S&P 500 was up about 0.1% in the early going Wednesday. The Nasdaq composite was up 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts in subdued trading around last week's recordsStocks drifted to a mixed close near the all-time highs they set last week. The S&P 500 index edged up 0.2% Wednesday. The Nasdaq composite rose 0.5%, and the Dow Jones Industrial Average edged up less than 0.1%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street slips in early trading, edging further below last week's recordsStocks are off to a sluggish start on Wall Street, pulling major indexes further below the all-time highs they set last week. The S&P 500 index slipped 0.2% in the first few minutes of trading Wednesday. The Nasdaq composite gave back 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street mixed as red-hot chipmaker Nvidia claws back some recent lossesMarkets on Wall Street were quietly mixed early Tuesday following a mixed session a day earlier that saw a third straight decline for red-hot chipmaker...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »