US STOCKS-Wall Street Stocks End Tad Lower After Hot Inflation Data Ahead of Nvidia Earnings
Investors awaited Nvidia’s earnings as the hotter inflation reading lifted doubts about the Federal Reserve’s next move.
- Wall Street's main indexes closed slightly lower on Wednesday after annual U.S. inflation increased 3.7% in the 12 months through July, a reading hotter than expected.
- The latest inflation print added pressure to the Federal Reserve's policy outlook, with odds of a September interest rate hike standing at 38.1% according to the CME FedWatch tool.
- Meta rose almost 1.1% after agreeing to pay up to $18 billion to resolve claims, while Moderna fell 5.8% and healthcare stocks on the S&P 500 were down 1%.
- Greg Tuorto, head of U.S. small and midcap investing at Goldman Sachs Asset Management, noted inflation increases risk premiums, yet said "the underlying economic environment is really good."
- Investors remain focused on Nvidia's upcoming quarterly update, as analysts warn anything less than stellar results could rekindle doubts about the AI boom, while CrowdStrike shares rose 2%.
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Wall Street Holds Near Records as Inflation Runs Hotter Than Forecast and Nvidia Earnings Loom
Major U.S. stock indexes finished little changed Wednesday as investors weighed a 3.7% inflation reading, higher Treasury yields and slower consumer spending while awaiting Nvidia’s ... The post Wall Street Holds Near Records as Inflation Runs Hotter Than Forecast and Nvidia Earnings Loom first appeared on [your]NEWS.
The main Wall Street indices ended this Wednesday's session on negative ground, with investors paying attention to the disclosure of Nvidia's accounts and new data on North American inflation. Dow Jones dropped 0.21% to 53,463.9 points, while S&P 500 fell -0.02% to 7,675.7 points. On the other hand, Nasdaq, with a strong technological component, lost 0.08% to 26,130.2 points. Nvidia's shares fell 1.59% before the submission of accounts. Today wa…
The New York stock exchanges closed with small losses on Wednesday. Investors on Wall Street are awaiting quarterly earnings from Nvidia, the leading developer of AI chips and the world's most valuable company. The figures will be released after the close of trading.
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