U.S. stocks end mixed ahead of inflation data
Release time：2024-05-21 07:58:37 Source：Stellar Signals 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：Here comes the char
- Next：Children are evacuated from school 'during an exam' after threat made via email
Related articles
- Who is Jacob Zuma, the former South African president disqualified from next week's election?
- Foreign diplomats impressed by traditional culture, high
- Women in wealthier areas are twice as likely to receive HRT, research finds
- Heartwarming moment driver saves dog from being run over by bringing traffic to a halt on busy six
- Kevin Pillar gets 1,000th career hit in Angels' win at Texas
- Feature: How China's Dong Hongjuan Became First Woman to Scale All 14 Peaks Above 8,000m
- Turning Paper into Art, One Sculpture at a Time
- Arts Add Vigor to Rural Revitalization in Guangdong
- Adams, Reyna, Turner, Ream are US concerns ahead of Copa America
- 7 Decades Later, Girl Admitted to Grandfather's Alma Mater
- Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
- Li Hongfeng Wins Gold of Women's Cross Country Olympic of Cycling Mountain Bike at Hangzhou Asiad
- China Wins 6th Straight Women's Beach Volleyball Gold at Asiad
- Heartwarming moment driver saves dog from being run over by bringing traffic to a halt on busy six
- Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 2025
- Generation Z Forest Keeper: To Protect Nature Is to Ensure the Survival of Mankind
- Woman Seeks to Showcase Dong Culture
- China's Chen, Fan Labor to WTT Singapore Smash Crowns
- Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
- Feature: Chinese Athletes Engage in Fight Against COVID
Random recommendation
Team China Wins Bronze in Women's 3000m RelayIn Pics: Opening Ceremony of Beijing 2022 Olympic Winter GamesMainland Medical Experts Arrive in Hong Kong in Fighting COVIDChina to Further Open up HighNW China's Xinjiang Receives over 190 Mln Tourists in 2021China's Judicial Authorities Strengthen Protection of Women, ChildrenChina Launches Campaign Against Women, Child TraffickingChina Makes Progress in Consolidating Poverty Alleviation: OfficialPeople Around China Celebrate Chinese Lunar New YearChina Makes Progress in Consolidating Poverty Alleviation: Official
- Copyright © 2024 Powered by U.S. stocks end mixed ahead of inflation data ,Stellar Signals news portal sitemap