Reported 27 days ago
US stocks rose on Thursday, with the S&P 500 and Nasdaq Composite gaining for the fourth consecutive day as fresh inflation and labor data bolstered expectations for a potential quarter-point interest-rate cut by the Federal Reserve. The Producer Price Index reported a 0.2% monthly increase, indicating cooling inflation, while initial jobless claims unexpectedly rose to 230,000. Despite a strong performance from tech stocks like Nvidia and Meta, shares of Moderna fell after the company lowered its revenue outlook.
Source: YAHOO