WELCOME TO LEIBOVIT VR NEWSLETTERS – THURSDAY – AUGUST 15, 2024
https://www.howestreet.com/2024/08/us-industrial-production-drop-a-concern-mark-leibovit/
U.S. Stocks Finish Choppy Trading Day Mostly Higher
Stocks turned in a relatively lackluster performance during trading on Wednesday but managed to end the day mostly higher. With the upward move, the Nasdaq and the S&P 500 both closed higher for the fifth consecutive session.
The major averages bounced back and forth across the unchanged line before closing in positive territory. The Dow climbed 242.75 points or 0.6 percent to 40,008.39 and the S&P 500 rose 20.78 points or 0.4 percent to 5,455.21, while the tech-heavy Nasdaq posted a more modest gain, inching up 4.99 points or less than a tenth of a percent to 17,192.60.
The choppy trading on Wall Street came after the Labor Department released its highly anticipated report on consumer price inflation in the month of July.
The Labor Department said its consumer price index rose by 0.2 percent in July after edging down by 0.1 percent in June. The modest increase by consumer prices matched expectations.
Core consumer prices, which exclude food and energy prices, also crept up by 0.2 percent in July after inching up by 0.1 percent in June. The uptick by core consumer prices was also […]
LEIBOVIT VR NEWSLETTERS – WEDNESDAY – AUGUST 14, 2024
https://www.howestreet.com/2024/08/us-industrial-production-drop-a-concern-mark-leibovit/
Inflation Data Sparks Rally On Wall Street Amid Rate Cut Optimism
Following the lackluster performance seen in the previous session, stocks moved sharply higher over the course of the trading day on Tuesday. The major averages all showed strong moves to the upside after ending Monday’s trading narrowly mixed.
The major averages saw continued strength going into the close, ending the day near their highs of the session. The Nasdaq soared 407.00 points or 2.4 percent to 17,187.61, the S&P 500 surged 90.04 points or 1.7 percent to 5,434.43 and the Dow jumped 408.63 points or 1.0 percent to 39,765.64.
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The rally on Wall Street came following the release of a Labor Department report showing producer prices crept slightly higher in the month of July.
The Labor Department said its producer price index for final demand inched up by 0.1 percent in July after rising by 0.2 percent in June. The uptick by producer prices matched economist estimates.
Meanwhile, […]
