🚨Stock Market Today: Dow ends above 40,000 as inflation continues to cool 📈
On Wednesday, the Dow Jones Industrial Average surged above 40,000, closing at 40,008.12, driven by data indicating a slowdown in inflation. The CPI data showed inflation easing to 2.9% from 3.0% in June, and core inflation rising by 3.2%, below forecasts. This suggests that the Federal Reserve might soon start cutting rates.
The S&P 500 increased by 0.3%, while the NASDAQ Composite remained unchanged.
Key company news includes:
1. Intel fell over 2% after selling its stake in Arm Holdings and announcing major layoffs and a dividend suspension.
2. Kellanova rose nearly 8% following its acquisition by Mars at $83.50 per share.
3. Alphabet Inc (Google) dropped 2% amid reports that the DOJ is considering actions against its online search dominance.
4. Cardinal Health climbed nearly 4% after raising its full-year guidance following strong Q4 results.
5. The market also reacted to recent data showing cooling inflation and signs that Fed policies are having an effect.
#KVB# #FlashNews# #BrokerNews# #GOOG# #INTEL# #DOW# #DowJones# #StockMarket# #NASDAQ# #USeconomy# #Economy#
Edited 15 Aug 2024, 10:57
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