U.S. stocks end mixed ahead of inflation data
Release time：2024-05-21 15:39:45 Source：Culture Capsule news portal
-
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）
- Previous：Why US Catholics are planning pilgrimages in communities across the nation
- Next：'The Apprentice,' about a young Donald Trump, premieres in Cannes
Related articles
- Analysis: Larson enters conversation with Verstappen as best drivers in the world
- Twins top Mariners 6
- Netflix drops major actor from Wednesday season 2 as the cast reunite in behind
- Remains found nearly 50 years ago in Arizona identified as a Vietnam veteran from Minnesota
- California congressman urges closer consultation with tribes on offshore wind
- Flexen and DeJong help the White Sox beat the Rays 4
- Ohio attorney general warns student protesters in masks could face felony charges under anti
- Eurovision explained, as the contest is shadowed by Israel
- Company wins court ruling to continue development of Michigan factory serving EV industry
- Flexen and DeJong help the White Sox beat the Rays 4
- The fightback begins: Boss of London's Queen Mary University tells pro
- Urologist convicted of patient sex abuse, including of minors
- Shea Langeliers drives in career
- Urologist convicted of patient sex abuse, including of minors
- Yvette Fielding says her Most Haunted co
- Cheryl Fergison's toyboy husband Yassine Al
- Election 2024: Trump's youngest son picked as Florida delegate to RNC
- Activist in Tunisia arrested as conditions for migrants and their advocates worsen
- Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise
- Sydney Sweeney will play history
Random recommendation
Chinese film executive upbeat on SinoImperial Chinese wine jar stolen from Belgian museumState shipbuilder signs big tanker dealBritney Spears reaches divorce settlement with estranged husband Sam AsghariNebraska forward Rienk Mast will have knee surgery and miss the 2024Film executives on developing IPs and reaching global audiencesPromoter stands by Ryan Garcia after a report he tested positive for a banned substance2 horses fall and unseat their jockeys in 2nd race at Churchill DownsA former Milwaukee election official is fined $3,000 for obtaining fake absentee ballotsBritney Spears reaches divorce settlement with estranged husband Sam Asghari
- Copyright © 2024 Powered by U.S. stocks end mixed ahead of inflation data ,Culture Capsule news portal sitemap