Nasdaq Moves Lower; Fed's Preferred Inflation Gauge Falls More Than Projected

Benzinga
2024.09.27 16:15
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U.S. stocks showed mixed performance with the Dow Jones up 0.66% while the NASDAQ fell 0.45%. The PCE Price Index rose 2.2% in August, below expectations. Energy shares increased by 1.4%, while information technology shares dropped by 0.3%. IonQ, Inc. shares surged 19% after a contract announcement, while Seelos Therapeutics, Inc. shares fell 12% due to a postponed meeting. European markets were higher, and Asian markets mostly closed up, with Japan's Nikkei 225 gaining 2.32%. U.S. wholesale inventories rose 0.2% in August, and personal income increased by 0.2%.