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Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady
NEW YORK (AP) — Most stocks fell on Wall Street Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. But gains for Amazon and some other influential Big Tech companies helped mask the losses.
Retail inflation held few surprises in July, with the overall number steady but core inflation, which the Fed watches, continuing a reacceleration that started in March.
Fed minutes are due, and top retailers will report earnings in the coming week. But the main attraction will be Jerome Powell's speech on Friday.
Wall Street held near its record heights on Monday, ahead of a week likely to be dominated by updates from the head of the Federal Reserve and from some of the biggest U.S. retailers.
Wall Street's main indexes were on track to open lower on Thursday, after a hotter-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the Federal Reserve this year.
NEW YORK — U.S. stocks edged back from their record levels on Friday in a quiet finish to another winning week. The Standard & Poor’s 500 slipped 0.3% from the all-time high it set the day before, as it closed its fourth winning week in the last five.
The S&P 500 dipped 0.3% after flirting with its all-time high, which was set two weeks ago, earlier in the day. The Dow Jones Industrial Average dropped 200 points, or 0.5%, while the Nasdaq composite shaved 0.3% off its own record.
Wall Street's main indexes declined on Thursday, after a hotter-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the Federal Reserve this year.
NEW YORK (AP) — U.S. stocks are hanging around their record levels on Friday as Wall Street heads toward the finish of another winning week.