Stocks wavered in afternoon trading, as losses for several Big Tech companies offset gains elsewhere in the market.
Consumers have been driving economic growth, but the latest round of earnings reports from retailers shows a mixed and more cautious picture. Overall, the rate of inflation has been falling broadly since it peaked more than two years ago. The PCE, which is the Federal Reserve’s preferred measure of inflation, was just below 7.3 per cent in June of 2022. Another measure of inflation, the consumer price index, peaked at 9.1 per cent at the same time.
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:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tech Earnings Drag Down U.S. Markets; Australian Market to Rise SlightlyU.S. stocks experienced a mixed day with significant declines in the tech sector. The S&P 500 and Dow Jones both reached record highs, but losses in major tech companies like Nvidia and Microsoft led to overall market declines. The Australian market is expected to open slightly higher.
Source: theage - 🏆 8. / 77 Read more »
Live updates: ASX to fall as tech stocks like Microsoft drop value on Wall StreetTech stocks on Wall Street have taken a battering, with Microsoft experiencing its worst day in years. Australia stocks are likely to fall as well. Follow the day's events and insights as they happen with our business reporters on the ABC News live markets blog.
Source: abcnews - 🏆 5. / 83 Read more »
Live updates: ASX futures point lower, Wall Street mixed as tech stocks boost Nasdaq, CPI aheadThe Australian Bureau of Statistics will release the September quarter CPI data, which is expected to see annual headline inflation to fall, but underlying measures remain above the Reserve Bank's 2-3 per cent target band. Wall Street finished mixed, and the ASX could fall slightly at the open. Follow the latest updates in our live blog.
Source: abcnews - 🏆 5. / 83 Read more »
Live updates: ASX edges lower, Wall Street mixed as tech stocks boost Nasdaq, CPI aheadThe Australian Bureau of Statistics will release the September quarter CPI data, which is expected to see annual headline inflation to fall, but underlying measures remain above the Reserve Bank's 2-3 per cent target band. Wall Street finished mixed, and the ASX falls slightly at the open. Follow the latest updates in our live blog.
Source: abcnews - 🏆 5. / 83 Read more »