NEW YORK — Stocks churned to a mixed close on Wall Street after a highly anticipated report showed inflation accelerated across the country last month, but not by much more than expected. The S&P 500 managed a gain of 0.1% Wednesday after drifting between small gains and losses. The Dow fell 70 points, and the Nasdaq composite rose 0.3%. While the inflation data was a touch hotter than estimated, economists and investors don’t expect it to change the Federal Reserve’s anticipated track much.
That’s discouraging for shoppers paying higher prices, but much of the acceleration was because of higher fuel costs, which can swing very sharply and quickly. Ignoring those, underlying inflation trends still look to be pointing toward continued moderation, economists said. Inflation peaked last year above 9%.
But she also said expectations among traders on Wall Street for cuts to interest rates next year may be too aggressive. Such cuts can act like steroids for stocks and other investments, but inflation is still above the Fed's target of 2%. Stocks of airlines were struggling after a couple warned of the hit to profits they’re taking because of higher costs.
Other airlines also sank, including declines of 4.3% for United Airlines, 3.1% for Delta Air Lines and 2.3% for Southwest Airlines.
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:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Asian shares trade mixed after Big Tech rally on Wall StreetTOKYO (AP) — Asian shares were trading mixed Tuesday following a Big Tech rally on Wall Street, as investors awaited an update on U.S. consumer prices set for later in the week. Japan's benchmark Nikkei 225 surged 1.0% to 32,776.37. Australia's S&P/ASX 200 added 0.2% to 7,206.90. South Korea's Kospi shed 0.8% to 2,536.80. Hong Kong's Hang Seng dropped 0.2% to 18,056.17, while the Shanghai Composite fell nearly 0.2% to 3,137.73. The Federal Reserve is weighing whether to keep raising interest rat
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street edges lower at the open ahead of inflation reportsNEW YORK (AP) — Stocks are drifting lower as Wall Street waits to see what reports coming up this week on the economy and Big Tech companies say. The S&P 500 slipped 0.2% early Tuesday. The Dow fell 28 points and the Nasdaq composite fell 0.3%.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street churns a bit higher in early tradingNEW YORK (AP) — Stocks are churning slightly higher on Wall Street after a highly anticipated report showed inflation accelerated across the country last month, but not by much more than expected. The S&P 500 was up 0.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Asian shares slide after tech, rising oil prices drag Wall St lowerStocks fell Wednesday in Asia after a slide in technology stocks dragged Wall Street lower ahead of a key report on U.S. inflation. Hong Kong's Hang Seng lost 0.2% to 17,986,56 and the Shanghai Composite index sank 0.8% to 3,113.18. Japan's Nikkei 225 index shed 0.2% to 32,706.52, while the Kospi in Seoul edged 0.1% lower, to 2,533.61. Australia's S&P/ASX 200 gave up 0.7% to 7,154.60. Shares rose in India and Taiwan but fell in Southeast Asia. Regional markets have been relatively quiet ahead of
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock futures dip in countdown to key CPI data: Stock market news todayAugust's Consumer Price Index inflation report is a key data point for the Fed when it decides on rates policy next week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock futures stumble as CPI data comes in hot: Stock market news todayAugust's Consumer Price Index inflation report is a key data point for the Fed when it decides on rates policy next week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »