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2024-06-26 13:34:41

News10NBC on Nostr: Stock market today: Wall Street leans modestly lower as markets await Friday's ...

Stock market today: Wall Street leans modestly lower as markets await Friday's inflation data
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Wall Street drifted modestly lower before the bell Wednesday as markets digest corporate earnings while waiting for an important inflation update from the government on Friday. Futures for the S&P 500 were essentially flat, while futures for the Dow Jones Industrial Average dipped 0.2%. Chipmaker Nvidia rose in off-hours trading, taking back more of the losses incurred during a recent three-day stretch during which 13% of its value vanished. Shares of Rivian soared 37% on news that Volkswagen has agreed to invest up to $5 billion in a new joint venture with the electric vehicle maker. FedEx jumped 14.6% after it beat Wall Street’s fourth-quarter sales and profit targets, boosted by recent cost-cutting initiatives. On Friday, the government reports on the inflation gauge that the Federal Reserve follows most closely and is expected to influence the Fed’s decision on when to begin cutting interest rates in the coming months. In Europe at midday, Germany’s DAX and the FTSE in London each fell 0.2%, while the CAC 40 in Paris tumbled nearly 0.8%. In Asian trading, Japan’s Nikkei jumped 1.3% to 39,667.07, buoyed by strong demand for technology shares driven by the enthusiasm over Nvidia and artificial intelligence. The dollar inched higher against the Japanese yen, drawing warnings from senior officials in Tokyo of potential intervention in the market. The euro fell to $1.0695 from $1.0717. The Kospi in Seoul was up 0.6% at 2,792.05. Chinese shares rebounded after a weak open. Hong Kong’s Hang Seng edged 0.1% higher to 18,089.93 and the Shanghai Composite index surged 0.8% to 2,972.53. Australia’s S&P/ASX 200 declined 0.7% to 7,783.00. On Tuesday, the S&P 500 rose 0.4% and the Dow Jones Industrial Average, which does not include Nvidia, dropped 0.8%. The Nasdaq composite jumped 1.3%.



https://www.whec.com/national-world/stock-market-today-wall-street-leans-modestly-lower-as-markets-await-fridays-inflation-data/
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