Wall Street closes lower as investors assess data after recent gains
Wall Street pulled back on Thursday as investors evaluated key economic indicators ahead of the Federal Reserve’s meeting next week. A Thursday Labor Department report showed U.S. producer prices rose more than forecast in November, though a moderation in service costs pointed to a continuation of the broader disinflationary trend. Initial claims for U.S. unemployment…
READ MOREStock Market Today: Nasdaq Tops 20,000 in Record First After CPI Data
The Nasdaq Composite broke past 20,000 for the first time ever on Wednesday. Tech led the index to fresh records after November’s CPI was in line with estimates. The inflation report boosts prospects that the Federal Reserve can cut rates this month. The Nasdaq Composite breached 20,000 for the first time on Wednesday after November’s…
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Nasdaq, S&P 500 post record closing highs; investors await more data
The S&P 500 and Nasdaq eked out record closing highs on Tuesday, with tech-related shares extending recent gains as investors awaited further jobs data. The Dow finished slightly lower on the day. Among S&P 500 sectors, technology, communication services and consumer discretionary were the only gainers, extending their advance on Monday. Marketwatchers also digested reassuring…
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US stocks jump on Election Day as investors eye outcome
U.S. stocks closed sharply higher in a broad rally on Tuesday after data signaled a solid economy, but investors braced for volatile trading this week as voting was underway in an extremely tight U.S. presidential election. The Institute for Supply Management said its non-manufacturing purchasing managers index, a gauge of the services sector, accelerated to…
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Nasdaq hits record high as Alphabet earnings beat estimates
The Nasdaq scored a record closing high and the S&P 500 rose on Tuesday, while the Dow fell as investors digested a host of corporate earnings and awaited Google-parent Alphabet’s results that came after the market close. Alphabet, one of the so-called “Magnificent Seven” megacap technology stocks, reported quarterly revenue that beat estimates. This is…
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SEC approves BlackRock’s spot bitcoin ETF options listing
The U.S. Securities and Exchange Commission has approved listing and trading of options for asset manager BlackRock’s spot bitcoin exchange-traded fund on the Nasdaq. Options trading for BlackRock’s fund iShares Bitcoin Trust has been approved with ticker symbol “IBIT”, the regulator said in a notice on Friday. The index options – listed derivatives offering a…
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Stocks drop, Nasdaq confirms correction as recession fears mount
U.S. stocks sold off for a second straight session on Friday, and the Nasdaq Composite confirmed it was in correction territory after a soft jobs report stoked fears of an oncoming recession. The Labor Department said nonfarm payrolls increased by 114,000 jobs last month, well short of the 175,000 average forecast by economists polled by…
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