U.S. stocks mostly steady after inflation update; S&P 500 slips less than 0.1%
AI Market Summary
US equities were mostly flat as inflation ran slightly hotter than expected, keeping the Fed's preferred gauge at 3.7% and Treasury yields marginally higher. Rate expectations were largely unchanged, but markets still price meaningful odds of another hike this year, limiting risk appetite near record index levels. Stock-specific moves were driven by earnings, while attention turned to Nvidia's results given AI's outsized influence on index performance.
Impact level
● Medium
Affected assets
NCSISP5002USD/USDT+0.82%
AI Insight · NCSISP5002USD/USDTAI Insight
● Neutral
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
U.S. stocks traded in a narrow range on Wednesday, with the S&P 500 slipping less than 0.1% while staying near record highs, the Dow down 113 points and the Nasdaq off 0.1%. Inflation data showed the Federal Reserve’s preferred gauge held at 3.7% last month, well above the central bank’s 2% goal. Abercrombie & Fitch surged 35.7% after posting quarterly earnings above expectations, while Smucker rose 4.3% on results that topped forecasts but later fell 3.2% after its profit-growth outlook for the next fiscal year missed analysts’ estimates.
