Wall Street Sees Mixed Reactions Amid Record-Breaking Investor Sentiment
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Home Depot reports its latest results on Tuesday, followed by Target and Lowes on Wednesday, and then Walmart on Thursday. The results will help give investors a more detailed picture of how businesses and consumers are handling stubbornly high inflation.
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CNBCA slew of retail earnings are on tap in the week ahead, including Walmart results on Thursday. Home Depot and Lowe's report Tuesday and Wednesday, respectively.
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No surprises on inflation and new financing developments in the artificial intelligence trade drove the record-breaking action on Wall Street last week. The S & P 500 and Nasdaq both dropped modestly Friday but managed to post their third straight winning weeks. The S & P 500 rose above 7,800 during Thursday's session for the first time ever. It closed at a record. The Dow bucked the trend, falling nearly 0.6% for the week. Here's a closer look at what drove the market. Cooler inflation gives the Fed room to wait Two closely watched inflation reports helped fuel the week's market gains by easing concerns that the Federal Reserve will need to raise interest rates at its September meeting.
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Epoch Times BusinessBy Friday’s market close, the Dow Jones Industrial Average stood at 53,732, down 0.56 percent for the week. The S&P 500 finished the week up 0.36 percent at 7,785 after touching its record high on Thursday. The Nasdaq edged up 0.14 percent, while the small-cap Russell 2000 jumped 1.12 percent.
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The mood shifted Wednesday morning decisively when a new report showed inflation easing further. The consumer price index—a measure of the cost of living—moderated for a second straight month, to 3.4 percent in July from 3.5 percent in June, matching expectations.
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CNBCBuilding on the prior week's weaker-than-expected jobs report , the consumer price index on Wednesday showed an increase of 0.1% in July, while the annual inflation rate eased to 3.4%. Both were in line with estimates. Jim called the report " very benign ." The following day, the producer price index came in unchanged for the month, cooler than the 0.2% increase economists expected. On an annual basis, the headline PPI increased 4.7%. Together, the reports offered further evidence that inflation is moderating, even as it remains above the Fed's 2% target. Treasury yields moved lower as traders dialed back expectations for a September rate hike.
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01 MarketWatch Need to Know The AI productivity payoff is coming. Here are 20 stocks primed to capture the gains as adoption spreads.
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02 CNBC Get Mike Santoli's Market Memo in your inbox first. SUBSCRIBE HERE Three weeks into a perky rebound that pushed stocks to fresh records, it's time for the market to prove that blessed relief can give way to genuine belief.
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03 Bloomberg Emerging Currencies Rise to Record High as Fed Hike Bets Ease Emerging-market currencies rose to a record high as bets on a Federal Reserve interest rate hike cooled, spurring demand for risk assets.
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04 Fortune Wall Street will get financial updates from some of the nation’s biggest retailers this week, along with more details from the Federal Reserve’s most recent meeting.
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05 RealClearMarkets The S&P 500 is in position for a rare fourth year of consecutive annual gains. Risks are rising, yet Wall Street is doubling down. Read Full Article »
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06 Epoch Times Business Aiding the positive market sentiment for equities was a wave of strong earnings from AI-infrastructure companies that added to investor interest in stocks.
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