Stock market today: Stocks waver after Fed's preferred inflation gauge meets expectations

US stocks wavered on Thursday as investors digested a crucial inflation reading key to assessing how quickly the Federal Reserve will start cutting interest rates and whether equities' recent rally will revive. The Dow Jones Industrial Average was down 0.2% while the S&P 500 drifted slightly higher. The tech-heavy Nasdaq Composite gained 0.4%. An inflation measure closely watched by the Fed continued cooling last month, matching Wall Street's expectations.

"Core" PCE, the measure most often mentioned by Fed Chair Jerome Powell, came in at 2.8%, down from 2.9% in the month prior. The looming release of the PCE index data — the Fed's preferred measure of inflation — had weighed on stocks all week. Policymakers have repeatedly stressed they want to see more signs of price pressures easing before committing to rate cuts. Meanwhile, bitcoin held above $60,000 on Thursday after almost reaching $64,000 overnight.

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.

US Stocks Slip as Investors Await Nvidia Earnings, Fed MinutesUS stocks slipped on Wednesday as investors counted down to high-stakes earnings from AI darling Nvidia (NVDA) and the release of Federal Reserve minutes which reiterated the central bank's focus on not cutting interest rates too soon.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks little changed following record-setting weekStocks are stacking up gains again after Nvidia results sparked a global rally that has the chipmaker eyeing a $2 trillion valuation.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: US stocks mixed as Wall Street watches and waitsStocks have lost momentum as investors regroup after the tumultuous run-up last week and as focus sharpens on the health of the US economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

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 »

Energy transition stocks get lots of love from investors, TSX Venture list showsCALGARY — Canadian-based mining companies that are betting on the global energy transition saw a surge of investor interest in 2023, according to the latest ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »