The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Business

Dow slips for first losing day in nine as consumers’ expectations for inflation rise

by admin May 15, 2024
May 15, 2024
Dow slips for first losing day in nine as consumers’ expectations for inflation rise

The Dow Jones Industrial Average slipped on Monday, snapping an eight-day winning streak, as traders grappled with rising inflation expectations ahead of key reports due later in the week.

The 30-stock Dow fell 81.33 points, or 0.21%, to close at 39,431.51. The S&P 500 inched lower by 0.02%, ending at 5,221.42. The Nasdaq Composite added 0.29%, closing at 16,388.24.

A New York Federal Reserve survey showed consumers last month raised their expectations for price increases in both the near and long term. On a one-year basis, inflation expectations rose to 3.3%. Their five-year outlook ticked up to 2.8%.

Stocks gave back earlier gains after the survey results were issued. The numbers also come ahead of two key economic data releases.

The consumer price index report is slated for Wednesday. Economists expect an April increase of 0.4% month over month and 3.4% year over year, according to Dow Jones. The producer price index, due out Tuesday, is expected to have risen 0.3% last month.

Shares of meme stock GameStop soared 74% after “Roaring Kitty,” the moniker of the Reddit trader behind 2021′s short squeeze, posted online for the first time in three years.

The 30-stock Dow is coming off its best weekly performance of 2024, rising more than 2% last week. The S&P 500 and Nasdaq climbed more than 1% each during that period.

The major averages have clawed back to within reach of their record levels set in March following a brief pullback. The Dow, S&P 500 and Nasdaq are all within 1% of their closing highs.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Amazon Web Services CEO Adam Selipsky to step down
next post
‘Country is in crisis’: House GOP unleashes on Dems with blistering ad marking 6 months until Election Day

Related Posts

Supreme Court Justice Samuel Alito sold Bud Light...

May 22, 2024

Dow tumbles 475 points, S&P 500 suffers worst...

April 16, 2024

Mattel pulls thousands of ‘Wicked’ dolls off shelves...

November 13, 2024

AI detects sound of frog species threatened in...

August 29, 2025

Retail sales slumped 0.9% in January, down much...

February 15, 2025

The great wealth transfer has started — but...

May 9, 2024

As home sellers and buyers wait on a...

May 1, 2024

7 ways that Starbucks CEO Brian Niccol plans...

November 1, 2024

Target launches paid membership program as it chases...

March 7, 2024

WeightWatchers CEO apologizes to body positivity influencer after...

March 25, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Amazon cracks down on Prime free shipping sharing

      September 4, 2025
    • Crash victims’ families prepare to make what could be their final plea for Boeing’s prosecution

      September 4, 2025
    • Disney to pay $10 million to settle FTC complaint over collection of children’s data on YouTube

      September 4, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      September 4, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      September 4, 2025
    • Trump’s political advisers huddle with House GOP over rebranding of the big beautiful bill

      September 4, 2025

    Categories

    • Business (1,376)
    • Politics (4,393)
    • Stocks (1,627)
    • Uncategorized (45)
    • World News (1,369)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved