All three major indices were in the green for most of Thursday as they sought a five-day winning streak. Instead, the S&P 500 and the Dow Jones Industrial Average finished in the red. Only the Nasdaq rose.
Today’s move sent the indices incurring losses for the month, although they are on track for weekly gains.
Federal data on Thursday showed that US consumers spent at a faster pace in July, while a closely watched measure of underlying price pressures remained flat. This could complicate the Federal Reserve’s discussion of whether to keep interest rates steady in September.
Stock indices finished mixed. The blue-chip Dow lost 168 points. The Nasdaq rose 0.1%, while the S&P 500 fell 0.2%.
Treasury yields fell. The 10-year US Treasury yield settled at 4.090%, down from 4.117% late Wednesday. However, it rose this month.
Salesforce jumped in. Up nearly 3% after earnings, the technology company was the best performer on the Dow Jones index. Apple achieved its fifth consecutive daily gain.
The general dollar fell. And the retail chain fell about 12%, making it the biggest loser on the Standard & Poor’s 500 index, after it cut its forecasts for sales and profits.
Chinese stocks closed out a bad month. The Shanghai Composite Index posted its worst monthly performance since September 2022, while Hong Kong’s Hang Seng Index plunged into a bear market in August. In Europe, bonds rose while the euro fell.
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