Reported about 1 year ago
U.S. stocks closed near unchanged levels as investors awaited fresh inflation data. The Nasdaq saw a slight gain, offering hope for rate cuts as economic activity slowed down. The market paused ahead of the release of the PCE price index, the Federal Reserve's inflation measure, and reacted positively to weaker economic indicators. Megacap stocks like Alphabet and Meta Platforms rose, while Micron, Nvidia, Walgreens Boots Alliance, and Levi Strauss faced declines. The overall sentiment suggests concerns over the rally's sustainability, with investors hedging against sharp losses and anticipating potential rate cuts later in the year.
Source: YAHOO