Stock market today: On Monday, the Dow Jones Industrial Average declined, ending an eight-day period of consecutive gains, as traders dealt with increasing concerns of inflation before important reports scheduled for later in the week. learn more at cnbc.com
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Stock market today: Dow Declines, S&P Slightly Down, Nasdaq Rises Amid Inflation Concerns
The Dow Jones Industrial Average, consisting of 30 stocks, experienced a decline of 81.33 points, or a decrease of 0.21%, and concluded the trading session at a closing value of 39,431.51. The S&P 500 experienced a marginal decline of 0.02%, {cnbc.com} concluding with a value of 5,221.42. The Nasdaq Composite increased by 0.29% and closed at a value of 16,388.24.
According to a poll conducted by the New York Federal Reserve, consumers in the previous month increased their expectations for price hikes in both the short and long term. Inflation predictions increased to 3.3% over the course of one year.
Their projected growth rate over the next five years increased to 2.8%.
Stocks relinquished their previous gains following the release of the survey results. Prior to two significant economic data releases, the numbers are also presented.
Stock market today Insights: Key Events and Trends
The consumer price index report {cnbc.com} is scheduled to be released on Wednesday. According to Dow Jones, economists anticipate a month-over-month growth of 0.4% and a year-over-year gain of 3.4% in April. The upcoming release of the producer price index on Tuesday is anticipated to show a 0.3% increase in the previous month.
The Stock market today of GameStop, a meme stock, increased by 74% following the online posting of “Roaring Kitty,” the Reddit trader responsible for the short squeeze phenomenon in 2021, after a three-year absence.https://www.cnbc.com/2024/05/12/stock-market-news-for-may-12-2024.html
Last week, the 30-stock Dow experienced its most impressive performance of 2024, with a gain of almost 2%. During that period, the S&P 500 and Nasdaq both had a gain of over 1%.
The major Stock market today indices have rebounded and are already approaching their previous record levels set in March, after a short period of decline. The Dow Jones Industrial Average, Standard & Poor’s 500, and Nasdaq Composite Index are all currently trading at levels that are less than 1% below their respective highest closing prices. learn more at cnbc.com
Barclays states that there is a positive forecast for the expansion of the United States and large-cap companies.
Barclays reports that value equities are still performing better than growth companies in Europe, but growth stocks in the U.S. {cnbc.com} are currently benefiting from better future predictions.
“The Stock market today declined from their recent peak levels following the Federal Reserve’s shift towards a more accommodative stance, which has additionally enhanced the prospects for economic expansion,” stated strategist Venu Krishna.
“We maintain an optimistic outlook on economic expansion in the United States, while adopting a neutral stance on the valuation of assets in both regions, {cnbc.com} considering that the highest interest rates have already occurred.”
Krishna reaffirmed his favorable stance on U.S. large capitalization stocks compared to their smaller competitors.
“In the United States, the significant exposure of large capitalization companies to quality and sales/earnings per share growth styles, which are themes that we have a positive outlook on, combined with the risks associated with interest rates that highly leveraged small capitalization companies face, have led us to maintain our positive perspective on large capitalization companies over small ones,” he added. learn more at cnbc.com
