Market Snapshot: S&P 500, Nasdaq edge higher, but trade below session highs after July’s inflation report

by | Aug 10, 2023 | Stock Market

U.S. stocks were slightly higher Thursday afternoon, after the S&P 500 index and Nasdaq Composite briefly turned negative, as investors gauged if July’s report on consumer prices could spell the end of Federal Reserve interest rate hikes. What’s happening
The Dow Jones Industrial Average
was up 106 points, or 0.3%, to 35,229.

The S&P 500
rose 6 points, or 0.1%, to 4,474, after briefly turning negative.

The Nasdaq Composite
gained 23 points, or 0.2%, to 13,745, after also briefly trading in the red.

The S&P 500 has declined six of the last seven sessions as stocks have seen a rocky start to August, but both the S&P 500 and Dow managed to shake off losses from earlier in the week as they fought to avoid a second straight weekly decline.

What’s driving markets Stock prices were volatile Thursday after the monthly U.S. inflation reading spurred hopes that the Federal Reserve might be close to ending its rate hiking campaign. U.S. consumer prices rose by 0.2% in July on both a headline an …

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