US stocks retreated on Wednesday, coming off a mixed close as caution prevailed ahead of a crucial inflation report that will guide expectations for interest rate cuts. The Dow Jones Industrial Average and the S&P 500 were down nearly 0.2%. The Nasdaq Composite sagged almost 0.4%. Stocks have struggled in February's final days as fresh economic data helped bring a market boosted by AI euphoria back to the reality of higher-for-longer interest rates.
In the meantime, a report on fourth quarter GDP showed the economy grew at a slightly slower pace than initally thought in the final three months of 2023. The second estimate of fourth quarter GDP came in at 3.2% on Tuesday, down from the initial reading of 3.3%. In other asset markets, bitcoin continued its roaring rally, breaking above $63,000 on Wednesday to come within striking distance of a fresh all-time high.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: US stocks close lower as early rate cut hopes fadeHopes now rest on a jam-packed week of corporate earnings to keep the rally alive.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: S&P, Dow hit record highs as Nvidia ignites global rallyStocks powered higher as investors celebrated Nvidia's blowout results, which beat sky-high expectations and revived the AI frenzy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nasdaq leads declines as earnings take center stageInvestors are looking to Walmart earnings to provide insight into consumer resilience, while Nvidia's results loom large.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: US futures take time out after breakout rallyStocks are consolidating after Nvidia results sparked a global rally that has the chipmaker eyeing a $2 trillion valuation.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »