2024-07-27 23:55:08
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Stock Market Today: Dow rises 700 points after key Fed-watched inflation data
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Updated at 4:35 PM EDT by Rob Lenihan
Stocks end mixed Thursday, following from the worst day for the S&P 500 and the Nasdaq in nearly two years, as investors continued to dump megacap tech stocks and pare risky bets in markets all over the world.
The Dow Jones Industrial Average finished up 81.20 points, or 0.20%, to finish the session at 39,935.07, the S&P 500 lost 0.51% to 5,399.22, while the tech-heavy Nasdaq slipped 0.93% to end the day at 17,181.72.
Adam Turnquist, chief technical strate..
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Stock market news today: Dow rises 700 points after key Fed-watched inflation data
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Economy
US stocks rose Friday, with the Dow up over 700 points, as investors welcomed new inflation data showing the PCE index and core PCE rising at a slower pace, solidifying expectations for interest rate cuts. Stocks are poised for a comeback after recent volatility and losses driven by Big Tech earnings, including from Apple, Microsoft, Amazon, and Meta, undermining confidence in the AI trade and spurring an exodus from megacaps into small cap stocks, as a surprisingly hot GDP print eased concerns..
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