Market Snapshot: U.S. stocks struggle for direction as traders eye July inflation data

by | Aug 9, 2023 | Stock Market

U.S. stocks traded lower Wednesday as traders absorbed news of deflation in China and looked ahead to the U.S. July consumer price index data due Thursday. How are stocks trading
The Dow Jones Industrial Average
fell 137 points, or 0.4% to 35,179

The S&P 500
dropped 25 points, or 0.6%, to 4,473

The Nasdaq Composite
lost 159 points, or 1.1% to 13,727

On Tuesday, the Dow fell 159 points, or 0.45%, to 35,314, the S&P 500 declined 19 points, or 0.42%, to 4,499, and the Nasdaq dropped 110 points, or 0.79%, to 13,884.

It was the five drop in six sessions for the S&P 500.What’s driving markets Investors are waiting for the July consumer price index data due Thursday and producer prices due Friday to get more clues on whether the Federal Reserve is done with interest rate hikes. Economists polled by the Wall Street Journal forecasted the consumer price index to rise 0.2% in July, at the same pace from the prior month. They also expected the annual rate of …

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