Reported 6 months ago
Stocks in the US were once again lower as traders analyzed economic and labor market data, with expectations for the release of the Fed's preferred inflation gauge on Friday. The Dow Jones Industrial Average extended losses, impacted by a significant drop in Salesforce's shares. First-quarter GDP growth was revised down to 1.3%, while inflation was milder, potentially paving the way for Fed rate cuts. The 10-year Treasury yield decreased to 4.57%, and rising jobless claims hinted at a cooling labor market. Markets are now preparing for the PCE inflation data, with economists forecasting a 2.7% year-over-year increase in April's inflation.
Source: YAHOO