Traders work on the floor of the New York Stock Exchange. <\/p>\n
NYSE<\/p>\n
Stock futures were hovering near the flatline night ahead of crucial inflation data.<\/p>\n
Futures tied to the Dow Jones Industrial Average added 18 points, or 0.04%. S&P futures rose 0.06%, while the Nasdaq 100 futures ticked up 0.05%.<\/p>\n
Investors are awaiting the release of August’s personal consumption expenditures price index out Friday, as the release is widely known to be the Federal Reserve’s preferred inflation measure. Economists expect the print to reflect an uptick in inflation and markets continue to price in two quarter-point rate cuts at the Fed’s upcoming meetings, in line with what the central bank has projected.<\/p>\n
The outcome could sway market reaction, however, after solid jobs data<\/a> released earlier Thursday and a strong upward revision in second-quarter gross domestic product to 3.8% slightly dampened bullish sentiment. Investors fear fewer jobless claims could mean that the economy is in decent shape and therefore give the Fed less reason to cut interest rates.<\/p>\n The three major U.S. indexes fell again on Thursday while the 10-year Treasury yield<\/a> rose to 4.2% at one point during the session on the back the latest economic data.<\/p>\n Major players in artificial intelligence, namely Oracle<\/a>, Meta<\/a> and Tesla<\/a>, also pulled back. Oracle lost 5.6%, reflecting growing concerns among a pocket of investors that tech valuations have run far too high and that the interconnected AI industry could be risky.<\/p>\n Week to date, the S&P 500<\/a> is down nearly 0.9%. The tech-heavy Nasdaq Composite<\/a> has lost about 1.1% while the Dow Jones Industrial Average<\/a> has shed 0.8%.<\/p>\n After this week’s losses, some market participants remain wary while still seeking longer-term buying opportunities. Andrew Slimmon, head of Applied Equity Advisors\u00a0at Morgan Stanley Investment Management, said he would use any weakness to add to positions in tech.<\/p>\n “The market was vulnerable to a pullback and because tech has been a leader, it’s the most vulnerable,” Slimmon told CNBC. “I would not panic on this action. Any pullback or worse for the euphoria stocks is healthy for the market. I don’t think it’s a good long-term sign when speculation gets rampant.”<\/p>\n","protected":false},"excerpt":{"rendered":"Traders work on the floor of the New York Stock Exchange. NYSE Stock futures were hovering near the…\n","protected":false},"author":2,"featured_media":451467,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[4959,51,3085,7989,2441,15251,3742,22772,3741,1831,15254,12841,16,15],"class_list":{"0":"post-451466","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-breaking-news-markets","9":"tag-business","10":"tag-business-news","11":"tag-dow-jones-industrial-average","12":"tag-markets","13":"tag-meta-platforms-inc","14":"tag-nasdaq-composite","15":"tag-oracle-corp","16":"tag-sp-500-index","17":"tag-stock-markets","18":"tag-tesla-inc","19":"tag-u-s-10-year-treasury","20":"tag-uk","21":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115267476171904407","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/451466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=451466"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/451466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/451467"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=451466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=451466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=451466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}