WNYT NewsChannel 13 on Nostr: Stock market today: Wall Street retreats from its records as worries about high ...
Stock market today: Wall Street retreats from its records as worries about high interest rates weigh
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The S&P 500 fell 0.3% to 5,307.01, the Dow Jones Industrial Average sank 0.5% to 39,671.04, and the Nasdaq composite slipped 0.2% to 16,801.54 after setting its latest record. The Federal Reserve released the minutes of its last policy meeting, which showed concerns about inflation and the possibility of raising interest rates. Target reported profit for the latest quarter that fell short of analysts' expectations, causing its stock to tumble 8%. Lululemon Athletica's chief product officer is leaving the company, leading to a 7.2% drop in its stock. Petco Health & Wellness reported better-than-expected results and revenue, causing its stock to rise 17.6%. TJX, the parent company of TJ Maxx and Marshalls, rose 3.5% after beating profit expectations and raising its forecast for earnings per share. The yield on the 10-year Treasury rose to 4.42%. Central banks around the world may cut interest rates, but only shallow cuts are expected. Stock markets in Europe and Asia were modestly lower.
https://wnyt.com/us-news/stock-market-today-wall-street-retreats-from-its-records-as-worries-about-high-interest-rates-weigh/
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The S&P 500 fell 0.3% to 5,307.01, the Dow Jones Industrial Average sank 0.5% to 39,671.04, and the Nasdaq composite slipped 0.2% to 16,801.54 after setting its latest record. The Federal Reserve released the minutes of its last policy meeting, which showed concerns about inflation and the possibility of raising interest rates. Target reported profit for the latest quarter that fell short of analysts' expectations, causing its stock to tumble 8%. Lululemon Athletica's chief product officer is leaving the company, leading to a 7.2% drop in its stock. Petco Health & Wellness reported better-than-expected results and revenue, causing its stock to rise 17.6%. TJX, the parent company of TJ Maxx and Marshalls, rose 3.5% after beating profit expectations and raising its forecast for earnings per share. The yield on the 10-year Treasury rose to 4.42%. Central banks around the world may cut interest rates, but only shallow cuts are expected. Stock markets in Europe and Asia were modestly lower.
https://wnyt.com/us-news/stock-market-today-wall-street-retreats-from-its-records-as-worries-about-high-interest-rates-weigh/