Stock market today: Wall Street drifts lower after weak signals on the economy

NEW YORK — U.S. stock indexes drifted lower following some potentially discouraging data on the economy. The S&P 500 fell 0.5% Thursday, its third loss in the last four days. The Dow Jones Industrial Average fell 0.5%, and the Nasdaq composite dropped 0.7% from its record set the day before. A report earlier in the morning said more U.S. workers applied for unemployment benefits last week than forecast.

A report earlier in the morning said more U.S. workers applied for unemployment benefits last week than expected. A separate update, meanwhile, showed that inflation at the wholesale level, before it reaches U.S. consumers, was hotter last month than economists expected. “One week doesn’t negate what has been a relatively steady stream of solid labor market data, but the Fed is primed to be sensitive to any signs of a softening jobs picture,” he said.

A cut next week would have the Fed following other central banks, which eased rates on Thursday. The European Central Bank cut rates by a quarter of a percentage point, as many investors expected, and the Swiss National Bank cut its policy rate by a steeper half of a percentage point. On Wall Street, Adobe fell 13.5% despite reporting stronger profit for the latest quarter than analysts expected. The company gave forecasts for profit and revenue in its upcoming fiscal year that fell a bit shy of analysts’.

In stock markets abroad, European indexes held relatively steady following the European Central Bank’s cut to rates.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom 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 edges lower as the Trump trade coolsNEW YORK (AP) — U.S. stocks edged lower as momentum came out of the torrid “Trump trade” that swept Wall Street following Donald Trump’s presidential victory. The S&P 500 slipped 0.3% Tuesday, coming off its latest record.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Nvidia drags Wall Street lower as oil and gold riseNEW YORK (AP) — A slide for market superstar Nvidia helped pull U.S. stock indexes down from their records. The S&P 500 fell 0.6% Monday, coming off its 57th all-time high of the year so far. The Dow Jones Industrial Average fell 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts lower as it waits for inflation dataNEW YORK (AP) — U.S. stock indexes drifted lower in the runup to the highlight of the week for the market, the latest update on inflation. The S&P 500 slipped 0.3% Tuesday and marked its first back-to-back losses in three weeks.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts after inflation update comes in as expectedNEW YORK (AP) — U.S. stocks drifted near their records after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates. The S&P 500 ended little changed Wednesday.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street gets back to climbing, sending Nasdaq to a recordNEW YORK (AP) — Wall Street got back to climbing after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. The S&P 500 gained 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street opens higher as it heads for a winning weekNEW YORK (AP) — Stocks are opening higher on Wall Street, keeping the market on track for its fifth gain in a row. The S&P 500 was up 0.1% in early trading Friday. The Dow Jones Industrial Average climbed 65 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »