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Most stocks fell on Wall Street following a disappointing update
on inflation.
But gains for Amazon and other influential Big Tech companies
helped to mask the losses on Thursday, and the S&P 500 edged up
less than 0.1%. The Dow Jones Industrial Average and the Nasdaq
composite were also little changed.
The hotter-than-expected inflation report forced traders to
second guess the widespread consensus that the Federal Reserve
will deliver relief next month by cutting interest rates.
Treasury yields rose in the bond market. Tapestry, the company
behind Coach, sank 15.7% after detailing how much profit it
could lose from tariffs and duties.
On Thursday:
The S&P 500 rose 1.96 points, or less than 0.1%, to 6,468.54.
The Dow Jones Industrial Average fell 11.01 points, or less than
0.1%, to 44,911.26.
The Nasdaq composite fell 2.47 points, or less than 0.1%, to
21,710.67.
The Russell 2000 index of smaller companies fell 28.98 points,
or 1.2%, to 2,299.08.
For the week:
The S&P 500 is up 79.09 points, or 1.2%.
The Dow is up 735.65 points, or 1.7%.
The Nasdaq is up 260.65 points, or 1.2%.
The Russell 2000 is up 80.66 points, or 3.6%.
For the year:
The S&P 500 is up 586.91 points, or 10%.
The Dow is up 2,367.04 points, or 5.6%.
The Nasdaq is up 2,399.88 points, or 12.4%.
The Russell 2000 is up 68.92 points, or 3.1%.
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