Wall Street ends day mixed despite strong inflation data
US inflation figures, which were better than expected, failed to significantly boost the rate of inflation. Wall Street’s stock market closed mixed on Thursday. He Dow Jones industry, its main indicator, registered a slight increase of 0.07% after the stock market crash of tech giants Nvidia, Microsoft and Meta. In contrast, the selective index The S&P 500 fell 0.88%, is 5584 units, and the technological Nasdaq fell 1.92%up to 18,288 points.
Increase Consumer price index (CPI) US fell by three tenths to 3% in JuneThat’s the lowest 12-month inflation reading since April 2021, according to the Bureau of Labor Statistics (BLS). The core inflation measure, which excludes volatile food and fuel prices, was 3.3%, down one-tenth from May and another sign that the Federal Reserve’s tight monetary policy is slowly working, with price growth targeting 2%.
Investors now believe that there is 93% chance US central bank will cut interest rates in SeptemberAccording to CME Group’s Fedwatch tool. The data also lifted housing-related stocks such as Home Depot (2.79%) and DR Horton (7.26%). At the corporate level, Nvidia fell 6%, Microsoft fell 2% and Meta fell 4%. Sector gains were dominated by real estate (2.66%) and public services (1.83%), while technology (-2.74%) and communications (-2.56%) were the biggest losers.
Among the 30 companies listed on the Dow Jones index, Home Depot and McDonald’s itself (1.72%) stood out, while Intel (-3.93%) and Microsoft (-2.48%) fell. In other markets Texas crude price rises to 82.62 dollars, gold rose to $2.42 an ounce, the yield on 10-year Treasury notes fell to 4.205%, and the euro was exchanged at $1.0863.