U.S. stocks end mixed ahead of inflation data
Release time:2024-04-20 18:23:25
NEW YORK, March 11 (Xinhua) -- U.S. stocks ended mixed on Monday, as investors awaited the crucial i 。
NEW YORK, March 11 (Xinhua) -- U.S. stocks ended mixed on Monday, as investors awaited the crucial inflation data that could offer insights into the potential timing of interest rate cuts by the Federal Reserve. The Dow Jones Industrial Average rose 46.97 points, or 0.12 percent, to 38,769.66. The S&P 500 sank 5.75 points, or 0.11 percent, to 5,117.94. The Nasdaq Composite Index shed 65.84 points, or 0.41 percent, to 16,019.27. Six of the 11 primary S&P 500 sectors ended in red, with industrials and consumer discretionary leading the laggards by losing 0.53 percent and 0.49 percent, respectively. Meanwhile, materials and energy led the gainers by rising 1.13 percent and 1.00 percent, respectively. All eyes are currently on the upcoming release of the U.S. consumer price index (CPI), scheduled for Tuesday morning. Federal Reserve Chair Jerome Powell indicated to lawmakers last week that the central bank was nearing a point where rate cuts could be considered, but emphasized the importance of being more assured about inflation returning to the 2 percent target. Currently, traders on Wall Street are estimating a 60 percent probability of the first rate cut occurring in June. "If we keep seeing progress on the inflation side, it will give investors confidence that the Fed is going to be friendlier to markets than it has been for the past couple of years," said James Robertson, senior portfolio manager at Manulife Investment Management. In terms of individual stocks on Monday, Super Micro Computer, an information technology stock, saw its value drop by over 5 percent, while chipmaker Nvidia experienced a 2 percent decline. Both companies faced pressure as investors questioned whether stocks tied to artificial intelligence still had room for growth following significant rallies. Meta, the parent company of Facebook, also struggled, witnessing a decline of 4.4 percent. Beyond the technology sector, pharmaceutical firm Eli Lilly saw its stock decrease by more than 3 percent.
(Editor:Liao Yifan)
Related articles
UN suspends aid movements at night in Gaza
Displaced Palestinians gather to receive food at a donation point in Rafah in the southern Gaza Stri2024-04-20Biden could miss deadline for November ballot in Ohio
TOLEDO, Ohio (AP) — President Joe Biden could be left off the ballot in Ohio this fall unless the st2024-04-20Former owner of gas station chain gets Trump's endorsement in Wisconsin congressional race
MADISON, Wis. (AP) — The former owner of a dinosaur-themed gas station chain in northeastern Wiscons2024-04-20A Supreme Court social media ruling could set new free speech standards
WASHINGTON (AP) — The Supreme Court seemed likely Monday to side with the Biden administration in a2024-04-20Over half of Brazilians live on the coast, 2022 Census shows
Published on 23/03/2024 - 09:14 By Vitor Abdala - Rio de Janeiro2024-04-20Trump's hush money trial: What to know with jury selection to begin Monday
NEW YORK (AP) — Donald Trump will make history as the first former president to stand trial on crimi2024-04-20
atest comment