Stocks experienced a slight increase on Thursday as recently released data revealed a rise in inflation on an annual basis for the first time in over a year, although disinflationary trends remained positive.
At the close, the Dow Jones Industrial Average (^DJI) had gained approximately 0.2%. The S&P 500 (^GSPC) remained relatively unchanged, while the tech-heavy Nasdaq Composite (^IXIC) saw a 0.1% increase. All three indexes had reduced their earlier session gains.
The Consumer Price Index (CPI) increased by 0.2% compared to the previous month and by 3.2% compared to the previous year in July, aligning with the 0.2% month-over-month increase in June but surpassing the 3% annual increase in June. Economists surveyed by Bloomberg had anticipated a 3.3% yearly increase in July.
On a “core” basis, which excludes the more volatile costs of food and gas, prices in July rose by 0.2% compared to the previous month and by 4.7% compared to the previous year. Both measures slightly exceeded economist expectations. Core inflation experienced its slowest growth rate since October 2021.
Meanwhile, earnings…
2023-08-10 15:03:14
Source from finance.yahoo.com
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