Current location:International Issue news portal > style
U.S. stocks end mixed ahead of inflation data
International Issue news portal2024-04-20 20:47:04【style】4People have gathered around
IntroductionNEW 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)
Address of this article:http://www.olivelawfirm.net/tag/back/
Very good!(1)
Related articles
- The US attempts a new military deal with Niger in a last ditch effort to stay
- Xi Sends Congratulatory Letter to First Forum on Building up China's Cultural Strength
- Xi Sends Congratulatory Letter to Forum on China
- China successfully deploys Queqiao
- WNBA moving date of its preseason game in Canada to avoid potential conflict with NHL playoffs
- Explainer: Learn About China from Continuity of Chinese Civilization
- Xi Story: Spirit of Ancient Poet Resonates in Modern China
- Xi Focus: Xi Urges Troops to Forge 'Great Wall of Steel' in Guarding Chinese Borders
- I'm a neurologist
- Xi Visits Wuliangsu Lake in China's Inner Mongolia
Popular articles
Recommended
Eiza Gonzales is radiant in behind
Explainer: Understanding Inclusiveness of Chinese Civilization
Chinese sightseers flock to Tianshui as spicy hot pot goes viral
Happy Life in Galai Village
Chinese publisher unveils new Harry Potter tie
Over 600 enterprises sign up for 7th CIIE
Xi Meets with Vietnamese PM
More Chinese travelers set foot in Antarctica
Links
- Stefan Frei makes 300th regular season appearance for Sounders in 0
- Seafood trade flourishes in lively border city
- Specialty agricultural products drive rural development
- Beijing airports enhance payment facilities for foreigners
- China commits to establishing region
- What's the secret behind black honey in SW China's Yunnan?
- In pics: Hami melon cultivation underway in NW China's Xinjiang
- Wrexham are PROMOTED to League One after thrashing Forest Green 6
- Interview: Chinese cars hold promising future in Egypt: auto businessman
- Sudan: Aid groups warn of mass death from hunger