Big Tech keeps Wall Street steady
Digest more
The July Producer Price Index rose 0.9% M/M, miles ahead of the 0.2% increase expected and June's unrevised flat reading. That’s the biggest monthly rise in headline PPI in three years.
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.
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 consumer price index for July will come out on Tuesday, and Wall Street expects a 0.2% monthly overall increase and a 0.3% uptick in the core CPI.
The S&P 500 was virtually unchanged, a day after nudging to its latest all-time high, and is on track to close its fourth winning week in the last five. The Dow Jones Industrial Average was up 141 points, or 0.3%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was slipping by 0.1%.