Dow Jones, S&P 500, Nasdaq: Wall Street closes, despite strong tech stocks
Important economic data helps the US stock market in some parts to reverse the trend. Nevertheless, interest rate expectations remain constant: investors expect another rate hike by the Fed.
US stock market indexes had a mixed reaction on Wednesday to a key economic indicator. The Dow Jones fell 0.9% to 50,906 points, while the S&P 500 dropped 0.3% to 7,651 points. In contrast, the Nasdaq gained 0.2% to 26,861 points. The US Commerce Department released the Personal Consumption Expenditures (PCE) price index, which remained at 3.4% in August, unchanged from the previous two months. This figure, a key inflation measure for the Federal Reserve, defied analyst expectations of an increase.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
