US Stock Market: Inflation Increase Lower Than Expected, Nasdaq Rises Over 1% in Early Trading, Outperforming Amazon and Nvidia with a 2% Gain.
The latest inflation indicator favored by the Federal Reserve has been released, with the US core PCE price index in August recording the smallest monthly increase since the end of 2020. As a result, US stocks opened higher on Friday (29th), with the Dow Jones Industrial Average rising 73.04 points or 0.
The latest inflation indicator favored by the Federal Reserve has been released, and the US core PCE price index recorded the smallest monthly increase since the end of 2020. As a result, US stocks opened higher on Friday (29th). The Dow Jones Industrial Average rose 73.04 points or 0.22% to 33,739.38 points in early trading, the S&P 500 index rose 23.08 points or 0.54% to 4,323.23 points, and the Nasdaq rose 140.12 points or 1.06% to 13,343.45 points. Nike (NKE.US) performed better than expected in the first quarter, rising 9% in early trading. JD.com (JD.US) and Pinduoduo (PDD.US) also rose more than 3%. With inflation cooling down and the possibility of looser monetary policy, large-cap tech stocks also rose, with Nvidia (NVDA.US) up more than 1.6%, Amazon (AMZN.US) up 2%, and Tesla (TSLA.US) up 1.5%. According to the latest data, US stocks have fallen this month, with the S&P 500 index expected to decline by about 4% in September. (me/m)
