Inflation Suspense Weighs on Stocks
Stocks were modestly lower on Thursday as investors monitored the health of the economy ahead of a key inflation report. The Dow Jones Industrials were negative 129.29 points midday to 32,781.61. The SP 500 handed back 20.85 points, to 4,094.92. The NASDAQ Composite fell 66.72 points to 12,019.55. Casino stocks were some of the worst performers in the SP 500, with Las Vegas Sands falling 3.4% and Caesars Entertainment falling 2.3%. Chinese tech stocks reversed recent gains, with Pinduoduo falling more than 6%. Shares of Five Below dropped more than 5% after first-quarter sales came in softer than anticipated and the retailer shared weak guidance for the current period. Tesla rose more than 2% after UBS upgraded the stock to buy. The firm also said the electric vehicle maker can rally more than 50% from current levels. Shares of Target were little changed after the company announced a dividend hike. The payout raise comes after a disappointing first quarter and a profit warning for the second quarter from the retail giant.
Inflation Suspense Weighs on Stocks
Stocks were modestly lower on Thursday as investors monitored the health of the economy ahead of a key inflation report. The Dow Jones Industrials were negative 129.29 points midday to 32,781.61. The SP 500 handed back 20.85 points, to 4,094.92. The NASDAQ Composite fell 66.72 points to 12,019.55. Casino stocks were some of the worst performers in the SP 500, with Las Vegas Sands falling 3.4% and Caesars Entertainment falling 2.3%. Chinese tech stocks reversed recent gains, with Pinduoduo falling more than 6%. Shares of Five Below dropped more than 5% after first-quarter sales came in softer than anticipated and the retailer shared weak guidance for the current period. Tesla rose more than 2% after UBS upgraded the stock to buy. The firm also said the electric vehicle maker can rally more than 50% from current levels. Shares of Target were little changed after the company announced a dividend hike. The payout raise comes after a disappointing first quarter and a profit warning for the second quarter from the retail giant.