• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Money Profit News
No Result
View All Result
Home Breaking News

S&P 500, Nasdaq stage rebound after inflation-driven sell-off

by
November 11, 2021
in Breaking News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Related Posts

U.S. court rejects J&J bankruptcy strategy for tens of thousands of talc lawsuits

U.S. FAA adopts new safeguards after computer outage halted flights

Stocks making the biggest moves midday: Carvana, Colgate-Palmolive, Tesla and more

Credit Suisse sees Apple beating the Street this week for a couple reasons

U.S. stocks moved higher Thursday after hot inflation data and surging bond yields sparked a sell-off in technology stocks Wednesday.

The S&P 500 ticked up 0.2%. The tech-heavy Nasdaq Composite gained 0.7%. The Dow Jones Industrial Average shed about 73 points, weighed down by Disney‘s 8% drop.

Tech names rallied Thursday after October’s consumer price reading pushed up bond yields Wednesday. The spike in rates pressured growth pockets of the equity market.

Nvidia rallied about 2% and AMD added more than 1%. Big Tech stocks like Facebook-parent Meta and Google-parent Alphabet both rose.

On the downside, Disney shares fell more than 8% after the media giant missed on the top and bottom lines of its quarterly results. Disney+ subscribers also came in short of estimates.

The bond market is closed Thursday for Veterans Day.

Wednesday’s inflation report showed the consumer price index, which tracks a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% in October from a year ago, hitting its highest level in three decades.

“Inflation remains stubbornly high, to the surprise of many that expected prices to come back to earth sooner,” said Ryan Detrick, chief market strategist for LPL Financial. “The truth is you can’t shut down a $20 trillion economy and not feel some bumps as it restarts, but we are hopeful the supply chain issues will resolve over the coming quarters and inflation should calm down as well.”

Following the CPI data, traders moved up their expectations for when the first Fed rate hike would occur. The Fed funds futures market now sees greater odds of the central bank’s first full rate hike coming in July 2022.

Next Post

GM Defense plans to produce military vehicle based on Hummer EV in 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

U.S. FAA adopts new safeguards after computer outage halted flights

by
January 30, 2023
0

American Airlines passengers wait to check into their flights at Hartsfield-Jackson Atlanta International Airport after the Federal Aviation Administration (FAA)...

Read more

U.S. FAA adopts new safeguards after computer outage halted flights

U.S. court rejects J&J bankruptcy strategy for tens of thousands of talc lawsuits

Credit Suisse sees Apple beating the Street this week for a couple reasons

Stocks making the biggest moves midday: Carvana, Colgate-Palmolive, Tesla and more

Ford and General Motors enter a new phase of uncertainty on prices and demand

Billionaire Gautam Adani Calls on India for Help to Save His Empire

Load More

All rights reserved by www.moneyprofitnews.com

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

moneyprofitnews