Stock market news today: Tech stocks rise as inflation cools

US stocks ended Wednesday's session mixed, with tech stocks fired up by cooling in inflation in April while the Dow Jones Industrial Average displayed concerned about recession risks for the world's largest economy. spurred stronger expectations the Federal Reserve will pause or end its rate-hike campaign with consumer price pressures easing. Higher interest rates eat into future profit made by growth companies.

CPI increased to 4.9% annually, the lowest reading since May 2021. The result was below expectations of 5%. Core CPI rose to 5.5%, meeting expectations. But the Dow, which carries many bank and consumer-oriented stocks, felt the weight of investors' concerns about the economy moving into a recession.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla stock resumes rally, as Rivian’s results and broader stock market rally provide supportShares of Tesla Inc. rallied 3.0% toward a three-week high in morning trading Wednesday, as better-than-expected results from fellow electric vehicle maker...
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock market today: Global shares decline ahead of reportsGlobal shares mostly fell Tuesday as investors took a wait-and-see view on the week ahead, including stubbornly high inflation across the economy.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock Market News Today: Investors brace for debt ceiling talksUS stocks slip ahead of debt-ceiling talks as default fears creep into markets
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market news today: Indexes fall amid US debt default jittersUS stocks fall as debt ceiling jitters rattle investors and markets brace for April inflation report
Source: BusinessInsider - 🏆 729. / 51 Read more »