Dow Jones Today: S&P 500, Nasdaq Slide on Hotter-than-Expected … – Investopedia

Stocks were mixed midday Friday as investors reacted to a report showing wholesale prices rose more than expected in July.

The Nasdaq fell 0.5% Friday morning, while the S&P 500 lost 0.1%. The Dow Jones Industrial Average slipped at the open but recovered to trade up about 0.3%.

The Producer Price Index (PPI) rose 0.3% last month after increasing 0.1% in June. Economists had expected wholesale inflation to rise, but only to 0.2%. Core PPI, which excludes volatile food and energy prices, also climbed 0.3%, up from 0.1% in June. The data comes a day after the Consumer Price Index rose 0.2% for the second straight month, a rate nearly consistent with the Fed’s 2% inflation target.

A preliminary reading of the Michigan Consumer Sentiment Index showed sentiment slipping slightly in August. “At 71.2 index points, sentiment is now about 42% above the all-time historic low reached in June of 2022 and is approaching the historical average reading of 86,” according to researchers at the…

Read Full Story: https://news.google.com/rss/articles/CBMiPWh0dHBzOi8vd3d3LmludmVzdG9wZWRpYS5jb20vZG93LWpvbmVzLXRvZGF5LTA4MTEyMDIzLTc2NDIzNDfSAQA?oc=5

The post Dow Jones Today: S&P 500, Nasdaq Slide on Hotter-than-Expected … – Investopedia first appeared on SEO, Marketing and Social News | OneSEOCompany.com.

source: https://news.oneseocompany.com/2023/08/11/dow-jones-today-sp-500-nasdaq-slide-on-hotter-than-expected-investopedia_2023081148835.html

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.