U.S. Stocks Are Trading Lower As Inflation Rate Accelerates To This Level
U.S. stocks traded lower this morning following the release of inflation data for June. Following the market opening Wednesday, the Dow traded down 0.95% to 30,687.35 while the NASDAQ fell 0.79% to 11,176.27. The SP also fell, dropping, 0.94% to 3,782.74. Also check this: Bitcoin Turns Higher, Surges Toward This Major Level Leading and Lagging Sectors Energy shares rose by 0.5% on Wednesday. Meanwhile, top gainers in the sector included SilverBow Resources, Inc. (NYSE: SBOW ), up 7% and Nordic American Tankers Limited (NYSE: NAT ) up 4%. In trading on Wednesday, materials shares dipped by 1.5%. Top Headline The annual inflation rate in the US increased to 9.1% in June, the highest level since November 1981, compared to 8.6% in May and also higher than analysts’ expectations of 8.8%. The Consumer Price Index (CPI) grew 1.3% month-over-month in June vs. 1.1% consensus and 1.0% in the last reading. Equities Trading UP Qurate Retail, Inc. (NASDAQ: QRTEB ) shares shot up 123% to $6.78. Qurate Retail will host a conference call to discuss Q2 results on Friday, August 5th.
U.S. Stocks Are Trading Lower As Inflation Rate Accelerates To This Level
U.S. stocks traded lower this morning following the release of inflation data for June. Following the market opening Wednesday, the Dow traded down 0.95% to 30,687.35 while the NASDAQ fell 0.79% to 11,176.27. The SP also fell, dropping, 0.94% to 3,782.74. Also check this: Bitcoin Turns Higher, Surges Toward This Major Level Leading and Lagging Sectors Energy shares rose by 0.5% on Wednesday. Meanwhile, top gainers in the sector included SilverBow Resources, Inc. (NYSE: SBOW ), up 7% and Nordic American Tankers Limited (NYSE: NAT ) up 4%. In trading on Wednesday, materials shares dipped by 1.5%. Top Headline The annual inflation rate in the US increased to 9.1% in June, the highest level since November 1981, compared to 8.6% in May and also higher than analysts’ expectations of 8.8%. The Consumer Price Index (CPI) grew 1.3% month-over-month in June vs. 1.1% consensus and 1.0% in the last reading. Equities Trading UP Qurate Retail, Inc. (NASDAQ: QRTEB ) shares shot up 123% to $6.78. Qurate Retail will host a conference call to discuss Q2 results on Friday, August 5th.