NYSE Dow Jones finished today at:

Wall Street drifts as stock markets worldwide take Trump’s new tariffs in stride​

By STAN CHOE, TERESA CEROJANO and MATT OTT
Updated 6:18 AM GMT+10, August 8, 2025

NEW YORK (AP) — U.S. stocks drifted to a mixed finish on Thursday as President Donald Trump’s tariffs taking effect on dozens of countries had only a muted effect on markets worldwide.

The S&P 500 slipped 0.1% after briefly climbing to the cusp of its all-time high during the morning. The Dow Jones Industrial Average dropped 224 points, or 0.5%, and the Nasdaq composite rose 0.3% to a record.

Worries are high that Trump’s tariffs are damaging the economy, particularly after last week’s worse-than-expected report on the job market. But hopes for coming cuts to interest rates by the Federal Reserve and a torrent of stronger-than-expected profit reports from big U.S. companies are helping to offset the concerns, at least for now.

Lower interest rates can give the economy and investment prices a boost, though the downside is that they can also push inflation higher. The Bank of England cut its main interest rate on Thursday in hopes of bolstering the sluggish U.K. economy.

The U.S. tariffs that took effect Thursday morning were already well known, as well as lower than what Trump had initially threatened. Some countries are still trying to negotiate down the tax rates on their exports, and continued uncertainty seems to be the only certainty on Wall Street. All the while, the U.S. stock market faces criticism that it’s climbed too far, too fast since hitting a bottom in April, with prices looking too expensive.

On Wall Street, worries about tariffs helped drag down the stock of Crocs.

The footwear maker tumbled 29.2% even though it reported a stronger profit for the latest quarter than analysts expected. It said it expects revenue to drop as much as 11% in the current quarter from a year earlier, while tariffs are dragging on its profitability. The company cited “continued uncertainty from evolving global trade policy and related pressures around the consumer.”

Eli Lilly dropped 14.1% even though the drugmaker likewise reported a stronger profit for the latest quarter than analysts expected. Analysts said some investors were disappointed with results that Lilly provided for a late-stage study of its potential pill version of the popular weight-loss drug Zepbound.

Intel sank 3.1% after Trump called for its CEO to resign, while accusing him of being “highly CONFLICTED,” though he gave no evidence.

Apple helped keep the market’s losses in check, as it rose on hopes that its massive size can help it navigate Trump’s economy. Its stock climbed 3.2% after CEO Tim Cook joined Trump at the White House on Wednesday to say it’s increasing its investment in U.S. manufacturing by an additional $100 billion over the next four years.

Trump also announced a 100% tariff on imported computer chips, but he added “if you’re building in the United States of America, there’s no charge.”

“Large, cash-rich companies that can afford to build in America will be the ones to benefit the most,” said Brian Jacobsen, chief economist at Annex Wealth Management. “It’s survival of the biggest.”

DoorDash added 5% after the delivery app topped Wall Street’s profit expectations for the latest quarter. It attracted new customers and saw the total number of orders increase.

Duolingo, the language-learning app, jumped 13.7% after it crushed Wall Street’s expectations. The company said its subscription revenue grew 46% over the same period last year.

All told the S&P 500 edged down by 5.06 points to 6,340.00. The Dow Jones Industrial Average dipped 224.48 to 43,968.64, and the Nasdaq composite rose 73.27 to 21,242.70.

In stock markets abroad, indexes rose across much of Europe and Asia.

Stocks climbed 0.2% in Shanghai and 0.7% in Hong Kong after China reported that its exports picked up in July, helped by a flurry of shipments as businesses took advantage of a pause in Trump’s tariff war with Beijing.

Japan’s Nikkei 225 rose 0.6%. Toyota Motor’s stock fell after it cut its full-year earnings forecasts largely because of Trump’s tariffs, but Sony rose after the entertainment and electronics company indicated it’s taking less damage from the tariffs than it had expected.

In the bond market, the yield on the 10-year Treasury rose to 4.23% from 4.22% late Wednesday after the latest reports on the U.S. economy came in mixed.

One said that slightly more U.S. workers applied for unemployment benefits last week. That could be an indication of rising layoffs, but the number remains within its recent range.

“There is nothing to see here!” according to Carl Weinberg, chief economist at High Frequency Economics. “These are not nearly recession readings.”

A separate report said that productivity for U.S. workers improved by more during the spring than economists expected. That could help the U.S. economy grow without adding more pressure on inflation. And that’s particularly important when Trump’s tariffs look set to increase prices for all kinds of things that U.S. households and businesses buy.

ASX 200 expected to fall again​

The Australian share market looks set to fall on Friday following a relatively poor night in the United States.

According to the latest SPI futures, the ASX 200 is expected to open 25 points or 0.3% lower this morning.
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U.S. stocks drifted to a mixed finish on Thursday as President Donald Trump’s tariffs taking effect on dozens of countries had only a muted effect on markets worldwide.

The S&P 500 slipped 0.1% after briefly climbing to the cusp of its all-time high during the morning. The Dow Jones Industrial Average dropped 224 points, or 0.5%, and the Nasdaq composite rose 0.3% to a record.

Worries are high that Trump’s tariffs are damaging the economy, particularly after last week’s worse-than-expected report on the job market. But hopes for coming cuts to interest rates by the Federal Reserve and a torrent of stronger-than-expected profit reports from big U.S. companies are helping to offset the concerns, at least for now.

Wall Street clocks another winning week​

By DAMIAN J. TROISE, ALEX VEIGA and TERESA CEROJANO
Updated 7:24 AM GMT+10, August 9, 2025

U.S. stocks closed higher Friday, capping a choppy week of trading with the market’s third winning week in the last four and another milestone.

The S&P 500 rose 0.8%, finishing just shy of the record it set last week. The benchmark index also wiped out its losses from a slide last week.

The Dow Jones Industrial Average climbed 0.5%, and the Nasdaq composite added 1% to the all-time high it set a day earlier.

Technology companies, with their hefty stock values, did much of the heavy lifting for the market. Nvidia rose 1.1% and Apple gained 4.2%.

Gilead Sciences jumped 8.3% for one of the market’s biggest gains. It reported financial results that easily beat analysts’ forecasts, while also raising its earnings forecast for the year. Expedia Group rose 4.1% after also reporting encouraging financial results.

They are among the final big batch of companies within the S&P 500 to report mostly strong financial results for the second quarter. Still, many have warned that current tariffs could cut into their profits.

Financial sector stocks also helped drive the market higher. Bank of America gained 2.4% and Mastercard rose 2.3%.

Elsewhere in the market, entertainment giant Paramount Skydance slid 10.5% a day after the company was created by the closing of an $8 billion merger of Skydance and Paramount. Shares in rival Warner Bros. Discovery sank 8%.

The main focus throughout the week has been on President Donald Trump’s trade war and its potential impact on the U.S. economy, as well as the Federal Reserve’s interest rate policy. Trump began imposing higher import taxes on dozens of countries Thursday.

Still, the market appeared to largely shrug off the latest tariff escalation.

“The S&P 500’s rebound this week may highlight the extent to which the market is becoming numb to tariff headlines,” said Daniel Skelly, head of Morgan Stanley’s Wealth Management Market Research & Strategy Team.

The unknown path of the economy amid an unpredictable tariff policy has been the key reason for the Fed to hold its benchmark interest rate steady.

Fed Chair Jerome Powell, though, has been under increasing pressure from Trump to cut interest rates. Policy decisions aren’t made solely by the Fed chair. All 12 members of the Federal Open Market Committee vote on interest rate changes.

Trump has an opportunity to exert more control over the Fed following his nomination of Stephen Miran to a vacancy on the Fed’s board of governors. Miran is a top economic adviser to Trump and is a near-certain vote in support of lower interest rates.

The Fed’s last decision to hold interest rates steady included two votes to lower interest rates. Its next meeting is in September, and Wall Street is overwhelmingly betting that the central bank will cut interest rates by a quarter of a percentage point.

Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.28% from 4.25% late Thursday. The yield on the two-year Treasury which more closely tracks expectations for Fed actions, rose to 3.76% from 3.73% late Thursday.

The expectation for an interest rate cut follows a series of signals last week that the economy could be weakening. That included reports showing that inflation edged higher in June and employers in the U.S. hit the brakes on hiring in July.

Both are key concerns for the Fed, which has been trying to cool inflation down to its target rate of 2% while also fulfilling its “full employment” mandate.

Lower interest rates can give the economy and investment prices a boost, though the downside is that they can also push inflation higher. Concerns about inflation reheating could be overshadowed by worries about a weakening employment market.

Wall Street and the Fed will get more insight next week on inflation’s temperature and the economy. The government will release updates on inflation at both the consumer and wholesale levels, along with a report on retail sales.

“We believe stocks will stay supported amid solid fundamentals, but fresh headlines in the coming week may challenge investor sentiment that remains vulnerable to tariff, economic, and geopolitical risks,” said Ulrike Hoffmann-Burchardi, chief investment officer for the Americas and global head of equities at UBS Global Wealth Management.

All told, the S&P 500 rose 49.45 points to 6,389.45. The Dow rose 206.97 points to 44,175.61, and the Nasdaq rose 207.32 points to finish at 21,450.02.

Asian markets closed mostly lower except in Tokyo, where the Nikkei rose 1.9% after Japan’s main trade envoy said the U.S. had agreed to correct a problem over tariffs that will apply to exports to the U.S.

European markets were mixed.

ASX 200 expected to rise​

The Australian share market looks set to edge higher on Monday following a good finish to the week on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 5 points higher.
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U.S. stocks closed higher Friday, capping a choppy week of trading with the market’s third winning week in the last four and another milestone.

The S&P 500 rose 0.8%, finishing just shy of the record it set last week. The benchmark index also wiped out its losses from a slide last week.

The Dow Jones Industrial Average climbed 0.5%, and the Nasdaq composite added 1% to the all-time high it set a day earlier.

Technology companies, with their hefty stock values, did much of the heavy lifting for the market. Nvidia rose 1.1% and Apple gained 4.2%.

All told, the S&P 500 rose 49.45 points to 6,389.45. The Dow rose 206.97 points to 44,175.61, and the Nasdaq rose 207.32 points to finish at 21,450.02.

US stocks slip as Wall Street braces for an update on inflation​

By STAN CHOE and ELAINE KURTENBACH
Updated 6:17 AM GMT+10, August 12, 2025

NEW YORK (AP) — U.S. stocks edged back from their record heights on Monday in Wall Street’s final moves before an upcoming update on inflation.

The S&P 500 dipped 0.3% after flirting with its all-time high, which was set two weeks ago, earlier in the day. The Dow Jones Industrial Average dropped 200 points, or 0.5%, while the Nasdaq composite shaved 0.3% off its own record.

The highlight of this week for Wall Street will likely arrive on Tuesday, when the government will report how bad inflation was across the country in July. Economists expect it to show U.S. consumers had to pay prices for groceries, gasoline and other costs of living that were 2.8% higher from a year earlier, a slight acceleration from June’s 2.7% inflation.

Inflation has remained above 2%, even if it has improved substantially from its peak above 9% three years ago. And the worry is that President Donald Trump’s tariffs could push inflation higher.

That in turn is raising fears about a potential, worst-case scenario called “stagflation” where the economy stagnates but inflation remains high. The Federal Reserve has no good tool to fix both at once, and it would need to concentrate on either the job market or inflation first. But helping one of those areas by moving interest rates would likely hurt the other.

A top Fed official, Michelle Bowman, said on Saturday that she believes the job market is the bigger concern. She is still backing three cuts to interest rates by the Fed this year following this month’s stunning, weaker-than-expected report on the U.S. job market. Trump has also been angrily calling for cuts to interest rates to support the economy.

Other Fed officials, led by Chair Jerome Powell, have been more hesitant. Powell has said he wants to wait for more data about how Trump’s tariffs are affecting inflation before the Fed makes its next move, and Tuesday’s update on the consumer price index may offer a big clue about that.

Strategists at Stifel are warning that stagflation may already be on the way, with spending by U.S. consumers slowing. That in turn could create a reckoning for investors after they sent stock prices soaring to records from their low point in April.

“Rate cuts cannot save an overvalued S&P 500,” according to the strategists, led by Thomas Carroll and Barry Bannister.

One way companies can make their stock prices appear less expensive is to deliver bigger profits.

Micron Technology climbed 4.1% after raising its forecasts for profit and revenue in the current quarter, which will end later this month. The maker of memory for computers said it’s benefiting from higher prices for its products.

AMC Entertainment rose 3.4% to trim its loss for the year so far, which came into the day at 26.4%, after reporting better results for the spring than analysts expected. The theater chain said moviegoers paid more for tickets, while also spending more on food and drinks.

TKO Group Holdings climbed 10.2% after reaching a deal to distribute its UFC mixed martial arts matches on the Paramount+ streaming platform. But Paramount Skydance’s stock dropped 3.7%.

Also on the losing side of Wall Street was C3.ai after the AI application software company warned it may report an operating loss as large as $124.9 million for its first quarter. CEO Thomas Siebel called the first-quarter sales results “completely unacceptable,” and its stock tumbled 25.6%.

All told, the S&P 500 fell 16.00 points to 6,373.45. The Dow Jones Industrial Average dropped 200.52 to 43,975.09, and the Nasdaq composite slipped 64.62 to 21,385.40.

The price of gold, meanwhile, eased after Trump said he would not place tariffs on the metal. That followed Friday’s brouhaha in the gold market after the U.S. Customs and Border Patrol seemed to rule that some kinds of gold bars coming from Switzerland would face a tariff. That in turn caused a disconnect between the prices of gold trading in New York versus in London, but the market has since calmed.

Gold for December delivery settled at $3,404.70 per ounce in New York, down 2.5%.

In stock markets abroad, indexes were mixed amid mostly modest movements across Europe and Asia.

In the bond market, the yield on the 10-year Treasury held at 4.27%, where it was late Friday.


ASX 200 expected to fall
The Australian share market looks set to fall on Tuesday following a poor start to the week on Wall Street.

According to the latest SPI futures, the ASX 200 is poised to open the day 13 points or 0.14% lower.
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U.S. stocks edged back from their record heights on Monday in Wall Street’s final moves before an upcoming update on inflation.

The S&P 500 dipped 0.3% after flirting with its all-time high, which was set two weeks ago, earlier in the day. The Dow Jones Industrial Average dropped 200 points, or 0.5%, while the Nasdaq composite shaved 0.3% off its own record.

The highlight of this week for Wall Street will likely arrive on Tuesday, when the government will report how bad inflation was across the country in July. Economists expect it to show U.S. consumers had to pay prices for groceries, gasoline and other costs of living that were 2.8% higher from a year earlier, a slight acceleration from June’s 2.7% inflation.

All told, the S&P 500 fell 16.00 points to 6,373.45. The Dow Jones Industrial Average dropped 200.52 to 43,975.09, and the Nasdaq composite slipped 64.62 to 21,385.40.

US stocks rally to records on hopes for cuts to interest rates​

By STAN CHOE, YURI KAGEYAMA and MATT OTT
Updated 7:07 AM GMT+10, August 13, 2025

NEW YORK (AP) — The U.S. stock market rallied to records on Tuesday after data suggested inflation across the country was a touch better last month than economists expected.

The S&P 500 rose 1.1% to top its all-time high set two weeks ago. The Dow Jones Industrial Average climbed 483 points, or 1.1%, and the Nasdaq composite jumped 1.4% to set its own record.

Stocks got a lift from hopes that the better-than-expected inflation report will give the Federal Reserve leeway to cut interest rates at its next meeting in September.

Lower rates would give a boost to investment prices and to the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment. President Donald Trump has angrily been calling for cuts to help the economy, often insulting the Fed’s chair personally while doing so.

But the Fed has been hesitant because of the possibility that Trump’s tariffs could make inflation much worse. Lowering rates would give inflation more fuel, potentially adding oxygen to a growing fire. That’s why Fed officials have said they wanted to see more data come in about inflation before moving.

Tuesday’s report said U.S. consumers paid prices for groceries, gasoline and other costs of living that were overall 2.7% higher in July than a year earlier. That’s the same inflation rate as June’s, and it was below the 2.8% that economists expected.

The report pushed traders on Wall Street to increase bets that the Fed will cut interest rates for the first time this year in September. They’re betting on a 94% chance of that, up from nearly 86% a day earlier, according to data from CME Group.

The Fed will receive one more report on inflation, as well as one more on the U.S. job market, before its next meeting, which ends Sept. 17. The most recent jobs report was a stunner, coming in much weaker than economists expected.

Some economists warn that more twists and turns in upcoming data could make the Fed’s upcoming decisions not so easy. Its twin goals are to get inflation to 2% while keeping the job market healthy. Helping one with interest rates, though, often means hurting the other.

Even Tuesday’s better-than-expected inflation report had some discouraging undertones. An underlying measure of inflation, which economists say does a better job of predicting where inflation may be heading, hit its highest point since early this year, noted Gary Schlossberg, market strategist at Wells Fargo Investment Institute. That helped cause some up-and-down swings for Treasury yields in the bond market.

“Eventually, tariffs can show up in varying degrees in consumer prices, but these one-off price increases don’t happen all at once,” said Brian Jacobsen, chief economist at Annex Wealth Management. “That will confound the Fed and economic commentators for months to come.”

Other central banks around the world have been lowering interest rates, and Australia’s on Tuesday cut for the third time this year.

On Wall Street, Intel’s stock rose 5.6% after Trump said its CEO has an “amazing story,” less than a week after he had demanded Lip-Bu Tan’s resignation.

Circle Internet Group, the company behind the popular USDC cryptocurrency that tracks the U.S. dollar, climbed 1.3% despite reporting a larger loss for the latest quarter than analysts expected. It said its total revenue and reserve income grew 53% in its first quarter as a publicly traded company, which topped forecasts.

On the losing side of Wall Street was Celanese, which sank 13.1% even though the chemical company delivered a better profit than expected. It said that customers in most of its markets continue to be challenged, and CEO Scott Richardson said that “the demand environment does not seem to be improving.”

Cardinal Health dropped 7.2% despite likewise reporting a stronger profit for the latest quarter than analysts expected. Its revenue fell short of forecasts, and analysts said the market’s expectations were particularly high for the company after its stock had already soared 33.3% for the year coming into the day.

Critics say the broad U.S. stock market is looking expensive after its surge from a bottom in April. That’s putting pressure on companies to deliver continued growth in profit.

All told, the S&P 500 rose 72.31 points to 6,445.76. The Dow Jones Industrial Average climbed 483.52 to 44,458.61, and the Nasdaq composite jumped 296.50 to 21,681.90.

In stock markets abroad, indexes edged up in China after Trump signed an executive order late Monday that delayed hefty tariffs on the world’s second-largest economy by 90 days. The move was widely expected, and the hope is that it will clear the way for a possible deal to avert a dangerous trade war between the United States and China.

Japan’s Nikkei 225 jumped 2.1%, and South Korea’s Kospi fell 0.5% for two of the world’s bigger moves.

In the bond market, the yield on the 10-year Treasury rose to 4.28% from 4.27% late Monday.

The yield on the two-year Treasury, which more closely tracks expectations for the Fed, fell to 3.73% from 3.76%.

ASX 200 expected to rise again​

The Australian share market looks set to rise on Wednesday following a strong night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 14 points or 0.15% higher this morning.
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The U.S. stock market rallied to records on Tuesday after data suggested inflation across the country was a touch better last month than economists expected.

The S&P 500 rose 1.1% to top its all-time high set two weeks ago. The Dow Jones Industrial Average climbed 483 points, or 1.1%, and the Nasdaq composite jumped 1.4% to set its own record.

Stocks got a lift from hopes that the better-than-expected inflation report will give the Federal Reserve leeway to cut interest rates at its next meeting in September.
All told, the S&P 500 rose 72.31 points to 6,445.76. The Dow Jones Industrial Average climbed 483.52 to 44,458.61, and the Nasdaq composite jumped 296.50 to 21,681.90.

Wall Street ticks higher after a rally wrapped around the world​

By STAN CHOE, ELAINE KURTENBACH and MATT OTT
Updated 7:24 AM GMT+10, August 14, 2025

NEW YORK (AP) — U.S. stocks ticked higher on Wednesday after a rally spurred by hopes for lower U.S. interest rates wrapped around the world.

The S&P 500 rose 0.3%, coming off its latest all-time high. The Dow Jones Industrial Average climbed 463 points, or 1%, while the Nasdaq composite added 0.1% to its own record set the day before.

Treasury yields eased in the bond market as expectations reached a virtual consensus that the Federal Reserve will cut its main interest rate for the first time this year at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, though they risk worsening inflation.

Stock indexes in Asia jumped in their first trading after Tuesday’s better-than-expected report on U.S. inflation triggered a jump in bets that a cut to interest rates is coming. Hong Kong’s Hang Seng leaped 2.6%, Japan’s Nikkei 225 rallied 1.3% and South Korea’s Kospi climbed 1.1%.

Indexes also rose in Europe, though the moves were more modest after they already had the chance to trade on the U.S. inflation data the afternoon before. Germany’s DAX returned 0.7%, and France’s CAC 40 rose 0.7%.

On Wall Street, stocks of companies that could benefit most from lower interest rates helped lead the way. PulteGroup climbed 5.4%, and Lennar rose 5.2% as part of a broad rally for homebuilders and others in the housing industry. Lower rates could make mortgages cheaper to get, which could spur more buying.

The hopes for lower interest rates are helping to drown out criticism that the U.S. stock market has broadly grown too expensive after its big leap since hitting a low in April.

One way companies can make their stock prices look less expensive is to deliver strong growth in profits, and Brinker International rose 1.6% after becoming the latest to report stronger results for the latest quarter than analysts expected. The company behind the Chili’s brand said it saw more customers coming to its restaurants, and it’s also making more profit off each $1 in sales.

“Chili’s is officially back, baby back!” CEO Kevin Hochman said.

HanesBrands climbed 3.7% after it agreed to sell itself to Gildan Activewear for $2.2 billion in cash and Gildan stock. The deal would combine North Carolinas’ HanesBrands with Canada’s Gildan, and Gildan’s stock that trades in the United States rose 11.8%.

Bullish soared in its debut on the New York Stock Exchange and rose 83.8% in its first day of trading. The cryptocurrency exchange’s CEO is Tom Farley, who used to be president of the NYSE Group.

On the losing end of Wall Street were grocery stores and delivery companies, which fell after Amazon said it will offer fresh groceries to customers in more than 1,000 cities and towns through same-day delivery. Kroger fell 4.4%, and DoorDash dropped 3.8%, while Amazon rose 1.4%.

Cava Group sank 16.6% after the Mediterranean restaurant chain reported weaker revenue for the latest quarter than analysts expected, though its profit topped forecasts. It also cut its 2025 forecast for an important underlying measure of restaurant sales.

CoreWeave lost 20.8% after the company, whose cloud platform helps customers running artificial-intelligence workloads, reported a larger loss for the latest quarter than analysts expected.

All told, the S&P 500 rose 20.82 points to 6,466.58. The Dow Jones Industrial Average jumped 463.66 to 44,922.27, and the Nasdaq composite added 31.24 to 21,713.14.

In the bond market, Treasury yields eased as expectations built for coming cuts to interest rates by the Fed.

The yield on the 10-year Treasury fell to 4.23% from 4.29% late Tuesday and from 4.50% in mid-July. That’s a notable move for the bond market.

President Donald Trump has angrily been calling for cuts to help the economy, often insulting the Fed’s chair personally while doing so.

But the Fed has been hesitant so far because of the possibility that Trump’s tariffs could make inflation much worse. Lowering rates would give inflation more fuel, potentially adding oxygen to a growing fire. That’s why Fed officials have said they wanted to see more data come in about inflation before moving.

On Thursday, a report will show how bad inflation was at the wholesale level across the United States. Economists expect it to show inflation accelerated a touch to 2.4% in July from 2.3% in June.

ASX 200 expected to rise​

The Australian share market looks set to rise on Thursday following a solid night on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.4% higher this morning
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U.S. stocks ticked higher on Wednesday after a rally spurred by hopes for lower U.S. interest rates wrapped around the world.

The S&P 500 rose 0.3%, coming off its latest all-time high. The Dow Jones Industrial Average climbed 463 points, or 1%, while the Nasdaq composite added 0.1% to its own record set the day before.

Treasury yields eased in the bond market as expectations reached a virtual consensus that the Federal Reserve will cut its main interest rate for the first time this year at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, though they risk worsening inflation.

Stock indexes in Asia jumped in their first trading after Tuesday’s better-than-expected report on U.S. inflation triggered a jump in bets that a cut to interest rates is coming. Hong Kong’s Hang Seng leaped 2.6%, Japan’s Nikkei 225 rallied 1.3% and South Korea’s Kospi climbed 1.1%.

All told, the S&P 500 rose 20.82 points to 6,466.58. The Dow Jones Industrial Average jumped 463.66 to 44,922.27, and the Nasdaq composite added 31.24 to 21,713.14.

Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady​

By STAN CHOE, TERESA CEROJANO and MATT OTT
Updated 8:35 AM GMT+10, August 15, 2025

NEW YORK (AP) — Most stocks fell on Wall Street Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. But gains for Amazon and some other influential Big Tech companies helped mask the losses.

Seven out of every 10 stocks within the S&P 500 fell, though the index edged up by less than 0.1% to set another all-time high. The Dow Jones Industrial Average dipped 11 points, or less than 0.1%, and the Nasdaq composite dipped by less than 0.1% from its record set the day before.

The inflation report said that prices jumped 3.3% last month at the U.S. wholesale level from a year earlier. That was well above the 2.5% rate that economists had forecast, and it could hint at higher inflation ahead for U.S. shoppers as it makes its way through the system.

The data forced traders to second guess their widespread consensus that the Federal Reserve will cut interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation.

“This doesn’t slam the door on a September rate cut,” but it may raise some doubt, according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley.

Most stocks fell on Wall Street after a report showed inflation was worse last month at the U.S. wholesale level than economists expected.

Traders now see a 7.4% chance that the Fed may hold rates steady in September, according to data from CME Group. A day earlier, they were betting on a 100% certainty that the Fed would cut its main rate for the first time this year.

Higher interest rates drag on all kinds of companies by keeping the cost to borrow high. They can hurt smaller companies in particular because they often need to borrow to grow. The Russell 2000 index of smaller U.S. stocks tumbled a market-leading 1.2%.

Thursday’s disappointing data followed an encouraging update earlier in the week on prices at the consumer level. A separate report on Thursday, meanwhile, said fewer U.S. workers applied for unemployment benefits last week. That’s a good sign for workers, indicating that layoffs remain relatively low at a time when job openings have become more difficult to find.

But a solid job market could also give the Fed less reason to cut interest rates in the short term.

The data helped send Treasury yields higher in the bond market. The yield on the 10-year Treasury climbed to 4.28% from 4.20% just before the data reports’ release and from 4.24% late Wednesday.

On Wall Street, Tapestry tumbled after the company behind the Coach and Kate Spade New York brands showed it’s feeling the pressure of tariffs.

It detailed how much profit it could lose in its upcoming fiscal year because of tariffs and duties, and its forecast for profit fell short of analysts’ expectations even though its forecast for revenue came in above. Its stock fell 15.7%, despite it also reporting a stronger profit for the latest quarter than analysts expected.

Deere fell 6.8% even though the machinery maker likewise delivered a better profit than expected. There, too, the focus was on where profits are heading. It cut the top end of its forecasted range for profit this fiscal year and said its customers “remain cautious amid ongoing uncertainty.”

On the winning side of Wall Street was Fossil Group, which jumped 29.8% after the seller of watches and other accessories reported better profit than expected. It also announced a plan to strengthen its finances, while trimming its forecast for how much it expects worldwide net sales to fall this year.

Big Tech stocks also helped mask Wall Street’s losses. Amazon rose 2.9% to add to its gains from the prior day when it announced same-day delivery of fresh groceries in more than 1,000 cities and towns.

Because Amazon is so huge, with a market value of $2.45 trillion, the movements for its stock carry much more weight on the S&P 500 than the typical company’s.

All told, the S&P 500 rose 1.96 to 6,468.54 points. The Dow Jones Industrial Average edged down 11.01 to 44,911.26, and the Nasdaq composite dipped 2.47 to 21.710.67.

In stock markets abroad, indexes were mixed across Asia and Europe ahead of a key meeting between U.S. President Donald Trump and Russian President Vladimir Putin on Friday.

ASX 200 expected to edge higher​

The Australian share market looks set for a soft finish to the week following a mixed night in the United States.

According to the latest SPI futures, the ASX 200 is expected to open 8 points higher this morning.
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Most stocks fell on Wall Street Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. But gains for Amazon and some other influential Big Tech companies helped mask the losses.

Seven out of every 10 stocks within the S&P 500 fell, though the index edged up by less than 0.1% to set another all-time high. The Dow Jones Industrial Average dipped 11 points, or less than 0.1%, and the Nasdaq composite dipped by less than 0.1% from its record set the day before.

The inflation report said that prices jumped 3.3% last month at the U.S. wholesale level from a year earlier. That was well above the 2.5% rate that economists had forecast, and it could hint at higher inflation ahead for U.S. shoppers as it makes its way through the system

All told, the S&P 500 rose 1.96 to 6,468.54 points. The Dow Jones Industrial Average edged down 11.01 to 44,911.26, and the Nasdaq composite dipped 2.47 to 21.710.67.

Wall Street finishes its latest winning week with a fade​

By STAN CHOE and TERESA CEROJANO
Updated 7:25 AM GMT+10, August 16, 2025

NEW YORK (AP) — U.S. stocks edged back from their record levels on Friday in a quiet finish to another winning week.

The S&P 500 slipped 0.3% from the all-time high it set the day before, as it closed its fourth winning week in the last five. The Dow Jones Industrial Average flirted with its own record, which was set in December, before ending just below the mark with a rise of 34 points, or 0.1%. The Nasdaq composite dipped 0.4%, though it’s still near its record set on Wednesday.

The U.S. stock market reached all-time highs this past week as expectations built that the Federal Reserve will deliver a cut to interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation.

A disappointing report about inflation at the U.S. wholesale level made traders pare back bets for coming cuts to interest rates on Thursday, but they’re still overwhelmingly expecting them. Such anticipation has sent Treasury yields lower in the bond market, though they inched higher Friday following some mixed updates on the economy.

One said shoppers boosted their spending at U.S. retailers last month, as economists expected, while another said that manufacturing in New York state unexpectedly grew. A third said industrial production across the country shrank last month, when economists were looking for modest growth.

Another report suggested sentiment among U.S. consumers is worsening because of worries about inflation, when economists expected to see a slight improvement.

“Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April,” when President Donald Trump announced his stunning set of worldwide tariffs, according to Joanne Hsu, director of the University of Michigan’s surveys of consumers. “However, consumers continue to expect both inflation and unemployment to deteriorate in the future.”

On Wall Street, UnitedHealth Group jumped 12% after famed investor Warren Buffett’s Berkshire Hathaway said it bought nearly 5 million shares of the insurer during the spring, valued at $1.57 billion. Buffett is known for trying to buy good stocks at affordable prices, and UnitedHealth’s halved for the year by the end of July because of a run of struggles.

Berkshire Hathaway’s own stock slipped 0.4%.

Applied Materials helped lead Wall Street lower with a decline of 14.1% even though it reported better results for the latest quarter than analysts expected. The focus was on the company’s forecast for a drop in revenue during the current quarter.

Its products help manufacture semiconductors and advanced displays, and CEO Gary Dickerson pointed to a “dynamic macroeconomic and policy environment, which is creating increased uncertainty and lower visibility in the near term, including for our China business.”

Sandisk fell 4.6% despite reporting a profit for the latest quarter that blew past analysts’ expectations. Investors focused instead on the data storage company’s forecast for profit in the current quarter, which came up short of Wall Street’s.

All told, the S&P 500 fell 18.74 points to 6,449.80. The Dow Jones Industrial Average rose 34.86 to 44,946.12, and the Nasdaq composite sank 87.69 to 21,622.98.

In stock markets abroad, indexes rose 0.8% in Shanghai but fell 1% in Hong Kong after data showed China’s economy may have slowed in July under pressure from uncertainty surrounding Trump’s tariffs.

“Chinese economic activity slowed across the board in July, with retail sales, fixed asset investment, and value added of industry growth all reaching the lowest levels of the year. After a strong start, several months of cooling momentum suggest that the economy may need further policy support,” ING Economics said in a market commentary.

Japan’s Nikkei 225 jumped 1.7% after the government said its economy grew at a better-than-expected pace in the latest quarter.

European stock indexes finished mixed before Trump began his meeting with Russian President Vladimir Putin, which could dictate where the war in Ukraine is heading.

In the bond market, the yield on the 10-year Treasury rose to 4.31% from 4.29% late Thursday. The two-year Treasury yield, which more closely tracks expectations for Fed action, rose to 3.75% from 3.74% late Thursday.

ASX 200 expected to tumble​

The Australian share market looks set for a tough start to the week following a poor finish to the last one on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 53 points or 0.6% lower.
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U.S. stocks edged back from their record levels on Friday in a quiet finish to another winning week.

The S&P 500 slipped 0.3% from the all-time high it set the day before, as it closed its fourth winning week in the last five. The Dow Jones Industrial Average flirted with its own record, which was set in December, before ending just below the mark with a rise of 34 points, or 0.1%. The Nasdaq composite dipped 0.4%, though it’s still near its record set on Wednesday.

The U.S. stock market reached all-time highs this past week as expectations built that the Federal Reserve will deliver a cut to interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation.

All told, the S&P 500 fell 18.74 points to 6,449.80. The Dow Jones Industrial Average rose 34.86 to 44,946.12, and the Nasdaq composite sank 87.69 to 21,622.98.

Wall Street holds at a standstill near its record heights​

By STAN CHOE, ELAINE KURTENBACH and MATT OTT
Updated 7:00 AM GMT+10, August 19, 2025

NEW YORK (AP) — Wall Street held near its record heights on Monday, ahead of a week likely to be dominated by updates from the head of the Federal Reserve and from some of the biggest U.S. retailers.

The S&P 500 barely budged and fell by less than 0.1%, coming off its first loss after setting an all-time high in three consecutive days. The Dow Jones Industrial Average slipped 33 points, or 0.1%, and the Nasdaq composite edged up by less than 0.1%.

Novo Nordisk’s stock that trades in the United States rose 3.7% after the Danish company said U.S. regulators approved its Wegovy drug as part of a treatment for a liver disease found in many overweight and obese people.

Soho House, a membership club with locations around the world, jumped 14.9% after announcing a deal where an investor group led by hotel-operator MCR would pay $9 in cash for its shares.

Wall Street is holding near its records on Monday ahead of updates later this week from the head of the Federal Reserve and several major U.S. retailers. The AP’s Seth Sutel has more.

Several of the country’s largest retailers, meanwhile, were mixed ahead of their profit reports that are scheduled for later in the week. Home Depot, which will report on Tuesday, slipped 1.2%.

Target rose 1.9% ahead of its report on Wednesday, and Walmart added 0.7% before its report on Thursday.

They, along with companies like Estee Lauder and Ross Stores, could offer a look at how different types of U.S. households are holding up when the job market seems to have morphed into one where relatively few workers are getting fired but also hired.

Just like a small group of wealthy households are separating from the rest of the country, a handful of Big Tech companies are dominating the U.S. stock market, in part because of a boom in spending around artificial-intelligence technology.

This separation of “haves” and “have nots” in the stock market could be increasing the risk, with many companies potentially facing trouble if the economy stagnates and inflation is high, according to Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management. The danger is that investors could look at how much the broad S&P 500 index has surged since its low point in April and “extrapolate the success of the few to the gains of the many.”

On Friday, the focus will swing to Jackson Hole, Wyoming, which has been the home in past years of many big policy announcements from the Federal Reserve. There, Fed Chair Jerome Powell will give a speech, and investors are hoping to hear how his mind has changed about interest rates since he said last month that he wanted to wait longer before cutting interest rates.

The fear at that time was that President Donald Trump’s tariffs could push inflation higher. Now, though, the bigger fear could be the slowing U.S. job market following a disappointingly weak report on employment that arrived just after the Fed’s last meeting.

The Fed’s twin jobs are to keep the job market healthy while also maintaining a lid on inflation, and helping one can often hurt the other in the short term. Lower rates can boost the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, for example, but they also risk worsening inflation.

Inflation updates since the Fed’s last meeting have come in mixed, further muddying the picture, but traders are nevertheless strongly expecting the Fed to cut its main interest rate for the first time this year at its next meeting in September. The hope is that Powell could give a nod to that.

Expectations for cuts to interest rates have pulled Treasury yields lower lately, and they largely remained there on Monday.

The yield on the 10-year Treasury held at 4.33%, where it was late Friday.

On Wall Street, the S&P 500 edged down 0.65 to 6,449.15. The Dow Jones Industrial Average slipped 34.30 to 44,911.82, and the Nasdaq composite added 6.80 to 21,629.77.

In stock markets abroad, indexes mostly fell in Europe in their first trading after Trump’s inconclusive summit meeting with Russian President Vladimir Putin on Friday about the war in Ukraine. Trump met with Ukrainian President Volodymyr Zelenskyy on Monday.

In Asia, indexes were mixed, with Japan’s Nikkei 225 rising 0.8% and South Korea’s Kospi falling 1.5%.

ASX 200 expected to fall​

The Australian share market looks set to fall on Tuesday following a subdued start to the week on Wall Street.

According to the latest SPI futures, the ASX 200 is poised to open the day 23 points or 0.25% lower.
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Wall Street held near its record heights on Monday, ahead of a week likely to be dominated by updates from the head of the Federal Reserve and from some of the biggest U.S. retailers.

The S&P 500 barely budged and fell by less than 0.1%, coming off its first loss after setting an all-time high in three consecutive days. The Dow Jones Industrial Average slipped 33 points, or 0.1%, and the Nasdaq composite edged up by less than 0.1%.

On Wall Street, the S&P 500 edged down 0.65 to 6,449.15. The Dow Jones Industrial Average slipped 34.30 to 44,911.82, and the Nasdaq composite added 6.80 to 21,629.77.

Wall Street falls further from its records as Nvidia, Palantir and other AI stars dim​

By STAN CHOE, ELAINE KURTENBACH and MATT OTT
Updated 7:16 AM GMT+10, August 20, 2025

NEW YORK (AP) — Wall Street faded on Tuesday following drops for Nvidia and other stars that have been riding the mania surrounding artificial-intelligence technology.

The S&P 500 fell 0.6% for a third straight loss, though it remains near its all-time high set last week. The Dow Jones Industrial Average added 10 points, or less than 0.1%, and the Nasdaq composite slumped 1.5%.

The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.

Another AI darling, Palantir Technologies, dropped 9.4% for the largest loss in the S&P 500. It’s seen bets build up sharply that its stock price will drop, according to S3 Partners. Only Meta Platforms has seen a bigger increase this year in what’s called “short interest,” where traders essentially bet a stock’s price will fall. Meta, the owner of Facebook and Instagram, sank 2.1%.
Criticism has been rising that stock prices across Wall Street have shot too high, too fast since hitting a bottom in April and have become too expensive. Palantir’s stock came into Tuesday with a tremendous gain of 130% for the year so far.

One way companies can make their stock prices look less expensive is to deliver growth in profits. Palo Alto Networks rose 3.1% after reporting earnings and revenue for the latest quarter that topped analysts’ expectations. The cybersecurity company also gave forecasts for profit and revenue in its upcoming fiscal year that were above Wall Street’s.

Home Depot’s gain of 3.2%, meanwhile, was the biggest reason the Dow did better than other indexes. The retailer reported results for the latest quarter that were a bit short of what analysts expected, but it delivered growth in revenue and stood by its prior forecasts for revenue and profit over the full year.

Other big retailers will give their latest profit updates in coming days. Lowe’s and Target are on deck for Wednesday, while Walmart and Ross Stores will report on Thursday.

The week’s headliner for Wall Street is likely arriving on Friday. That’s when the chair of the Federal Reserve, Jerome Powell, will give a highly anticipated speech in Jackson Hole, Wyoming. The setting has been home to big policy announcements from the Fed in the past, and the hope on Wall Street is that Powell may hint that cuts to interest rates are coming soon.

The Fed has kept its main interest rate steady this year, primarily because of the fear of the possibility that President Donald Trump’s tariffs could push inflation higher. But a surprisingly weak report on job growth across the country may be superseding that.

Traders on Wall Street widely expect the Fed to cut interest rates at its next meeting in September in order to give the economy a boost. Treasury yields have come down notably in the bond market as a result, and they eased on Tuesday.

The yield on the 10-year Treasury fell to 4.30% from 4.34% late Monday.

Strategists at Bank of America warn that Powell may not sound as inclined to cut interest rates as the market is expecting. He could remain non-committal and discuss the possibility of a worst-case scenario for the economy called “stagflation.” The Fed has no good tool to fix that situation, where the economy stagnates at the same time as inflation remains high.

On Wall Street, Viking Therapeutics tumbled 42.1% after the biopharmaceutical company released results from a clinical trial of an oral tablet that could treat obesity and other metabolic disorders.

Tegna rose 4.3% after Nexstar Media Group said it will buy the owner of 64 television stations across the country for $22 per share in cash. Nexstar, which owns the CW and local television broadcasters of its own, added 0.7%.

All told, the S&P 500 fell 37.78 points to 6,411.37. The Dow Jones Industrial Average added 10.45 to 44,922.27, and the Nasdaq composite fell 314.82 to 21,314.95.

In stock markets abroad, indexes rose in Europe after falling modestly in Asia.

Tokyo’s Nikkei 225 index slipped 0.4% as market heavyweight SoftBank Group Corp. fell 4% after it announced it was taking a $2 billion stake in U.S. chip maker Intel.

Intel climbed 7%. U.S. Commerce Secretary Howard Lutnick also confirmed in an interview on CNBC that the Trump administration may take an ownership stake in Intel.

ASX 200 expected to rise​

The Australian share market looks set to rise on Wednesday despite a poor night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.25% higher this morning.
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Wall Street faded on Tuesday following drops for Nvidia and other stars that have been riding the mania surrounding artificial-intelligence technology.

The S&P 500 fell 0.6% for a third straight loss, though it remains near its all-time high set last week. The Dow Jones Industrial Average added 10 points, or less than 0.1%, and the Nasdaq composite slumped 1.5%.

The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.

All told, the S&P 500 fell 37.78 points to 6,411.37. The Dow Jones Industrial Average added 10.45 to 44,922.27, and the Nasdaq composite fell 314.82 to 21,314.95.

Wall Street steadies after Nvidia, Palantir and other AI stars trim their losses​

By STAN CHOE, YURI KAGEYAMA and MATT OTT
Updated 7:09 AM GMT+10, August 21, 2025

NEW YORK (AP) — U.S. stock indexes ended mixed on Wednesday after Nvidia, Palantir and other superstar stocks pared most of their steep losses from the morning.

The S&P 500 dipped 0.2% after trimming a loss that reached 1.1% earlier in the day and remains near its an all-time high set last week. The Dow Jones Industrial Average added 16 points, or less than 0.1%, and the Nasdaq composite fell 0.7%.

The day’s action centered again around stocks caught up in the mania around artificial-intelligence technology.

Nvidia, whose chips are powering much of the world’s move into AI, sank as much as 3.9% during the morning and was on track to be the heaviest weight on Wall Street following its 3.5% fall on Tuesday.

But it clawed back nearly all of Wednesday’s drop and finished with a dip of just 0.1%. As it pared its loss, so did broad market indexes because Nvidia is Wall Street’s most influential stock by being its most valuable.

Palantir Technologies, another AI darling, fell 1.1% to add to its 9.4% loss from the day before, but it had been down as much as 9.8% Wednesday morning.

Wall Street is lower, dragged down by leading artificial intelligence stocks, including Nvidia and Palantir. We hear more from AP’s Seth Sutel.

One possible contributor to the swoon was a study from MIT’s Nanda Initiative that warned that most corporations are not yet seeing any measurable return from their generative AI investments, according to Ulrike Hoffmann-Burchardi, global head of equities at UBS Global Wealth Management.

But the larger factor may be the simple criticism that prices for such stock simply shot too high, too fast amid the furor around AI and became too expensive. Nvidia, whose profit report scheduled for next week is one of Wall Street’s next major events, had soared 35.5% for the year so far heading into Tuesday. Palantir had surged even more, more than doubling.

The tech stocks still have supporters, though, who say AI will bring the next generational revolution in business.

Mixed profit reports from big U.S. retailers helped keep the rest of the market in check.

TJX, the company behind the TJ Maxx and Marshalls stores, climbed 2.7% after beating analysts’ forecasts for profit and revenue. It also raised its forecast for profit over its full fiscal year, while CEO Ernie Herrman said TJX is seeing “strong demand at each of our U.S. and international businesses” and that its current quarter is off to a strong start.

Lowe’s added 0.3% after the home-improvement retailer delivered a profit for the latest quarter that topped analysts’ expectations.

Target, meanwhile, tumbled 6.3%. The struggling retailer said that CEO Brian Cornell plans to step down Feb. 1 and that an insider, 20-year veteran Michael Fiddelke, will replace him. He helped reenergize the company, but it has struggled to turn around weak sales in a more competitive post-COVID retail landscape.

Estee Lauder dropped 3.7% after offering a forecast for profit this upcoming fiscal year that fell short of Wall Street’s estimates. The beauty company said it expects tariffs to shave roughly $100 million off its upcoming earnings.

La-Z-Boy sank 12.1% after the furniture maker’s profit and revenue for the spring came up shy of analysts’ expectations.

All told, the S&P 500 fell 15.59 points to 6,395.78. The Dow Jones Industrial Average added 16.04 to 44,938.31, and the Nasdaq composite fell 142.10 to 21,172.86.

The week’s biggest news for Wall Street is likely arriving on Friday, when Federal Reserve Chair Jerome Powell will give a highly anticipated speech in Jackson Hole, Wyoming. The hope on Wall Street is that Powell will hint that cuts to interest rates are coming soon.

The Fed has kept its main interest rate steady this year, primarily because of the fear of the possibility that President Donald Trump’s tariffs could push inflation higher. But a surprisingly weak report on job growth across the country may be superseding that.

Treasury yields have come down sharply on expectations for an easing of interest rates, and the yield on the 10-year Treasury fell to 4.29% from 4.30% late Tuesday.

Trump has been angrily calling for lower interest rates, often insulting Powell personally while doing so. Trump on Wednesday called on a top official at the Federal Reserve, Lisa Cook, to resign after a member of his administration accused her of committing mortgage fraud.

In stock markets abroad, indexes were mixed across Europe and Asia.

London’s FTSE 100 rose 1.1% despite a report that said inflation in the U.K. rose more than expected through July, in part due to soaring airfares and food prices.

Hong Kong’s Hang Seng added 0.2%. Shares that trade there of Chinese toy company Pop Mart International Group soared 12.5% after its CEO said its annual revenue could top $4 billion this year and announced the release of a mini version of its popular Labubu dolls.

ASX 200 expected to rise again​

The Australian share market looks set to push higher again on Thursday despite a mixed night on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.25% higher this morning.
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U.S. stock indexes ended mixed on Wednesday after Nvidia, Palantir and other superstar stocks pared most of their steep losses from the morning.

The S&P 500 dipped 0.2% after trimming a loss that reached 1.1% earlier in the day and remains near its an all-time high set last week. The Dow Jones Industrial Average added 16 points, or less than 0.1%, and the Nasdaq composite fell 0.7%.

The day’s action centered again around stocks caught up in the mania around artificial-intelligence technology.

Walmart helps pull Wall Street to its 5th straight loss​

By STAN CHOE, TERESA CEROJANO and MATT OTT
Updated 7:08 AM GMT+10, August 22, 2025

NEW YORK (AP) — Wall Street fell to a fifth straight loss on Thursday, hurt by a drop for Walmart and dampened hopes for coming cuts to interest rates.

The S&P 500 slipped 0.4%. All its losses have been relatively modest, but it has not risen since setting an all-time high last Thursday. The Dow Jones Industrial Average dropped 152 points, or 0.3%, and the Nasdaq composite fell 0.3%.

Walmart was one of the market’s heaviest weights and dropped 4.5% after reporting a profit for the spring that came up short of analysts’ expectations, while Nvidia and other Big Tech stocks held a bit steadier following two days of sharp swings.

The moves were stronger in the bond market, where Treasury yields rose after a report forced Wall Street to scale back hopes that the Federal Reserve may soon deliver relief by cutting interest rates.

The report suggested growth in U.S. business activity is accelerating and hit its fastest rate so far this year. That’s good news for the economy, but the preliminary data from S&P Global also said tariffs helped push up average selling prices at the fastest rate in three years. That’s a discouraging sign for inflation.

Taken all together, such data has historically aligned more with the Federal Reserve considering a hike in interest rates, rather than a cut, according to Chris Williamson, chief business economist at S&P Global Market Intelligence.

No one expects a rate hike to happen, but the overwhelming expectation on Wall Street has been for coming cuts. Traders are betting on a nearly three-in-four chance that the Fed will lower its main interest rate at its next meeting in September, according to data from CME Group. The hope on Wall Street has been that Fed Chair Jerome Powell may give hints on Friday that easier rates may be coming.

He will be speaking in Jackson Hole, Wyoming, at an annual conference of central bankers that’s been home to big policy announcements in the past.

A cut in interest rates would be the first of the year, and it would give investment prices and the economy a boost by potentially making it cheaper to borrow to buy cars or equipment. But it could also risk worsening inflation.

The Fed has been hesitant to cut interest rates this year out of fear that President Donald Trump’s tariffs could push inflation higher, but a surprisingly weak report on job growth earlier this month suddenly made the job market a bigger worry. Trump, meanwhile, has angrily pushed for cuts to interest rates, often insulting Powell while doing so.

The yield on the 10-year Treasury, which helps set rates for mortgages, rose to 4.32% from 4.29%. The two-year Treasury, which moves more on expectations for what the Federal Reserve will do with short-term interest rates, climbed to 3.78% from 3.74%.

On Wall Street, Walmart dropped even though it reported encouraging growth in revenue during the latest quarter and raised its forecast for profit over its full fiscal year.

Analysts said the market’s expectations were high coming into the report. The Bentonville, Arkansas, company’s stock came into the day with a gain of 13.5% for the year so far, more than the rest of the market.

Big Tech stocks are under even more pressure to deliver bigger profits amid criticism that their stock prices ran too high, too fast and have become too expensive because of the frenzy around artificial-intelligence technology.

Several AI superstar stocks have swung sharply this week, taking some shine off their skyscraping surges for the year, because of such criticism. But they held a bit steadier on Thursday.

Palantir Technologies, which at one point on Wednesday was on track to fall more than 9% for a second straight day before paring its loss, rose 0.1%. Nvidia, the chip company that’s become the poster child of the AI boom, edged down 0.2%.

Coty tumbled 21.6% after the beauty products company reported a loss for the latest quarter, when analysts expected a slight profit. The company, whose brands include CoverGirl and Joop!, said uncertainty about tariffs and the economy are making retailers cautious in their orders.

On the winning side of Wall Street was Nordson, which makes products and systems used for precision dispensing and other things. It delivered profit and revenue for the latest quarter that topped analysts’ expectations, and its stock rose 3%.

All told, the S&P 500 slipped 25.61 points to 6,370.17. The Dow Jones Industrial Average fell 152.81 to 44,785.50, and the Nasdaq composite sank 72.55 to 21,100.31.

In stock markets abroad, indexes were mixed across much of Europe and Asia.

Germany, Europe’s largest economy, saw its DAX return 0.1% after U.S. and European Union officials offered a framework for their trade deal.

Japan’s Nikkei 225 fell 0.6% after a survey showed Japan’s factory activity contracted again in August.

ASX 200 expected to fall​

The Australian share market looks set to fall on Friday following a poor night in the United States.

According to the latest SPI futures, the ASX 200 is expected to open 12 points or 0.15% lower this morning.
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Wall Street fell to a fifth straight loss on Thursday, hurt by a drop for Walmart and dampened hopes for coming cuts to interest rates.

The S&P 500 slipped 0.4%. All its losses have been relatively modest, but it has not risen since setting an all-time high last Thursday. The Dow Jones Industrial Average dropped 152 points, or 0.3%, and the Nasdaq composite fell 0.3%.

Walmart was one of the market’s heaviest weights and dropped 4.5% after reporting a profit for the spring that came up short of analysts’ expectations, while Nvidia and other Big Tech stocks held a bit steadier following two days of sharp swings.

All told, the S&P 500 slipped 25.61 points to 6,370.17. The Dow Jones Industrial Average fell 152.81 to 44,785.50, and the Nasdaq composite sank 72.55 to 21,100.31.

Wall Street soars on hopes for lower interest rates as the Dow surges 846 points to a record​

By STAN CHOE, TERESA CEROJANO and MATT OTT
Updated 7:21 AM GMT+10, August 23, 2025

NEW YORK (AP) — Wall Street rallied to its best day in months on Friday after the head of the Federal Reserve hinted that cuts to interest rates may be on the way, along with the kick they can give the economy and investment prices.

The S&P 500 leaped 1.5% for its first gain in six days and finished just shy of its all-time high set last week.

The Dow Jones Industrial Average soared 846 points, or 1.9%, to its own record after topping its prior high from December. The Nasdaq composite jumped 1.9%.

“Ka-Powell” is how Brian Jacobsen, chief economist at Annex Wealth Management, described the reaction to Jerome Powell’s highly anticipated speech in Jackson Hole, Wyoming. “The Fed isn’t going to be the party-pooper.”

The hope among investors had been that Powell would hint that the Fed’s first cut to interest rates of the year may be imminent. Wall Street loves lower rates because they can goose the economy, even if they risk worsening inflation at the same time.

President Donald Trump has angrily been calling for lower rates, often insulting Powell while doing so. And a surprisingly weak report on job growth this month pushed many on Wall Street to assume cuts may come as soon as the Fed’s next meeting in September.

Powell encouraged them on Friday after saying he’s seen risks rise for the job market. The Fed’s two jobs are to keep the job market healthy and to keep a lid on inflation, and it often has to prioritize one over the other because it has just one tool to fix either.

But Powell also would not commit to any kind of timing. He said the job market looks OK at the moment, even if “it is a curious kind of balance” where fewer new workers are chasing after fewer new jobs. Inflation, meanwhile, still has the potential to push higher because of Trump’s tariffs.

In sum, Powell said that “the stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance.”

Treasury yields tumbled in the bond market as bets built that the Fed would cut its main interest rate in September. Traders see an 83% chance of that, up from 75% a day earlier, according to data from CME Group.

The yield on the 10-year Treasury fell to 4.25% from 4.33% late Thursday. The two-year Treasury yield, which more closely tracks expectations for Fed action, sank to 3.69% from 3.79% in a notable move for the bond market.

On Wall Street, stocks of smaller companies led the way. They can benefit more from lower interest rates because of their need to borrow money to grow. The smaller stocks in the Russell 2000 index surged 3.9% for its best day since April and more than doubled the S&P 500’s rally.

Homebuilders jumped on hopes that easier interest rates could encourage more people to buy homes. Lennar, PulteGroup and D.R. Horton all rose more than 5%.

Travel companies, meanwhile, climbed amid hopes that easier interest rates could help U.S. households spend more. Norwegian Cruise Line rallied 7.2%, Delta Air Lines flew 6.7% higher and Caesars Entertainment rose 7%.

Shares of Nio, a Chinese electric-vehicle maker, that trade in the United States leaped 14.4% after it began pre-sales of its flagship premium SUV model, the ES8.

Intel climbed 5.5% after Trump said the chip company has agreed to give the U.S. government a 10% stake in its business.

Nvidia rose 1.7% to trim its loss for the week. The company, whose chips are powering much of the world’s move in to artificial-intelligence technology, had seen its stock struggle recently amid criticism that it and other AI superstars shot too high, too fast and became too expensive.

Nvidia CEO Jensen Huang said Friday that the company is discussing a potential new computer chip designed for China with the Trump administration. The chips are graphics processing units, or GPUs, a type of device used to build and update a range of AI systems. But they are less powerful than Nvidia’s top semiconductors today, which cannot be sold to China due to U.S. national security restrictions.

All told, the S&P 500 jumped 96.74 points to 6,466.91. The Dow Jones Industrial Average leaped 846.24 to 45,631.74, and the Nasdaq composite rallied 396.22 to 21,496.53.

In stock markets abroad, Germany’s DAX returned 0.3% after government data showed that its economy shrank by 0.3% in the second quarter compared with the previous three-month period.

Indexes rose across much of Asia, with stocks climbing 1.4% in Shanghai and 0.9% in South Korea.

ASX 200 expected to storm higher​

The Australian share market looks set for a great start to the week following a strong finish to the last one on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 84 points or 0.95% higher.
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Wall Street rallied to its best day in months on Friday after the head of the Federal Reserve hinted that cuts to interest rates may be on the way, along with the kick they can give the economy and investment prices.

The S&P 500 leaped 1.5% for its first gain in six days and finished just shy of its all-time high set last week.

The Dow Jones Industrial Average soared 846 points, or 1.9%, to its own record after topping its prior high from December. The Nasdaq composite jumped 1.9%.

Stocks slip on Wall Street after last week’s rally​

By DAMIAN J. TROISE and ALEX VEIGA
Updated 6:55 AM GMT+10, August 26, 2025

Stocks on Wall Street closed broadly lower Monday, giving back some of the big gains the market notched last week on hopes for interest rate cuts from the Federal Reserve.

The S&P 500 fell 0.4% and remains near its all-time high. The Dow Jones Industrial Average closed 0.8% lower after setting a record high on Friday. The Nasdaq composite closed 0.2% lower.

The selling was widespread, with health care stocks among the biggest drags on the market. Pfizer fell 2.9% and Eli Lilly and Co. slid 2.3%.

Gains for several big technology stocks helped temper the market’s losses. Alphabet, Google’s parent company, rose 1.2%. Technology heavyweight Nvidia rose 1%.

Treasury yields rose in the bond market following their big drop on Friday amid expectations that the Fed will cut its benchmark interest rate in September.

The yield on the 10-year Treasury rose to 4.28% from 4.25% late Friday. The two-year Treasury yield rose to 3.73% from 3.70% late Friday.

“Markets are just digesting Friday’s news and kind of the increasing odds that we’re going to see a September rate cut from the Fed,” said Anthony Saglimbene, chief market strategist at Ameriprise.

Wall Street is still overwhelmingly betting that the Fed will cut interest rates at its next meeting in September. Traders see an 84% chance that the central bank will trim its benchmark rate by a quarter of a percentage point, according to data from CME Group.

The Fed has been maintaining rates at their current level since the end of 2024 amid worries about inflation heating up as tariffs work their way through the economy to businesses and households.

The central bank has grown increasingly concerned about the state of the job market in the U.S. Its two main focuses are keeping inflation low and supporting conditions for strong employment.

Recent signals have shown that the job market is seemingly stagnating and could possibly weaken, which could prompt the central bank to cut rates. Lower interest rates make borrowing easier, helping to spur more investment and spending, but that could also potentially fuel inflation.

So far, consumer confidence remains mostly solid, though concerns about inflation linger. Wall Street and the Fed will get an update on consumer confidence in the U.S. when business group The Conference Board releases its monthly survey for August on Tuesday. Economists expect overall confidence to remain mostly unchanged from July.

The bigger update will come on Friday, when the government releases an inflation report that is closely monitored by the Fed. An update on inflation earlier in August showed that consumer prices remained modestly higher in July, compared with a year ago. The government’s report on Friday, the personal consumption expenditures price index, is expected to show a similar result.

Economists expect the PCE to show that prices rose 2.6% in July, compared with a year ago. That’s unchanged from the rate in June and hovering just above the Fed’s preferred target of 2%.

Among other big movers on Wall Street Monday: Keurig Dr Pepper, which sank 11.5% after saying it will buy Peet’s Coffee owner JDE Peet’s in a deal worth about $18 billion.

Railroad stocks also fell following a report that Warren Buffett informed CSX management that he is not looking to buy the railroad. Shares in CSX fell 5.1%. Union Pacific dropped 2% and Norfolk Southern gave up 2.5%.

All told, the S&P 500 fell 27.59 points to 6,439.32. The Dow lost 349.27 points to close at 45,282.47. The Nasdaq slid 47.24 points to 21,449.29.

European markets mostly closed lower after Asian markets finished lower overnight.

Wall Street has a few more corporate earnings updates this week, essentially wrapping up the latest round of profit reports and forecasts from U.S. companies.

Nvidia will report its latest results on Wednesday. The company’s role as a key supplier of chips for artificial intelligence and its heavy weighting give it outsized influence as a bellwether for the broader market. It has been a driving force for much of the market’s gains, along with several other tech giants with pricey stock values.

“There’s more doubt around the AI theme building,” Saglimbene said. “So I think what NVIDIA has to say is going to be very impactful for not only the whole AI space, but the broader markets in general, because it’s such a large holding in the major indexes like the S&P 500 and Nasdaq.”

On Thursday, Wall Street will get earnings updates from electronics retailer Best Buy and discount retailer Dollar General. Retailers are being closely watched as Wall Street tries to gauge the current and potential future impact on costs and prices from tariffs.

ASX 200 expected to fall​

The Australian share market looks set to fall on Tuesday following a poor start to the week on Wall Street.

According to the latest SPI futures, the ASX 200 is poised to open the day 19 points or 0.25% lower.
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Stocks on Wall Street closed broadly lower Monday, giving back some of the big gains the market notched last week on hopes for interest rate cuts from the Federal Reserve.

The S&P 500 fell 0.4% and remains near its all-time high. The Dow Jones Industrial Average closed 0.8% lower after setting a record high on Friday. The Nasdaq composite closed 0.2% lower.

The selling was widespread, with health care stocks among the biggest drags on the market. Pfizer fell 2.9% and Eli Lilly and Co. slid 2.3%

All told, the S&P 500 fell 27.59 points to 6,439.32. The Dow lost 349.27 points to close at 45,282.47. The Nasdaq slid 47.24 points to 21,449.29.

A late push sends Wall Street near its records​

By DAMIAN J. TROISE and ALEX VEIGA
Updated 7:43 AM GMT+10, August 27, 2025

Wall Street capped a choppy day of trading Tuesday with slight gains for stocks, leaving the major indexes just below their recent all-time highs.

The S&P 500 closed 0.4% higher after wavering between small gains and losses for much of the day. The benchmark index finished just 2.6 points below its record high set earlier this month and short of recouping all of its losses from the day before.

The Dow Jones Industrial Average also bounced back from an early slide, finishing with a 0.3% gain. The Nasdaq composite added 0.4%.

The market’s uneven start to the week comes after Wall Street notched big gains last week on hopes for interest rate cuts from the Federal Reserve.

Gains in technology, financial and industrial stocks helped outweigh losses in communication services and other sectors. Chipmaking giant Nvidia rose 1.1% and JPMorgan Chase added 1.2%.

Boeing rose 3.5% for one of the biggest gains among S&P 500 companies after Korean Air announced a $50 billion deal with the company that includes buying more than 100 aircraft. Dish Network parent EchoStar surged 70.2% after AT&T said it will buy some of its wireless spectrum licenses in a $23 billion deal.

Treasury yields mostly fell in the bond market. The yield on the 10-year Treasury fell to 4.26% from 4.28% late Monday.

Wall Street is holding steady as indexes hover just below their recent all-time highs. The AP’s Seth Sutel reports.

The broader market remained subdued following President Donald Trump’s escalation of his fight with the Federal Reserve. On Monday, he said that he’s removing Federal Reserve Governor Lisa Cook. Cook’s lawyer said she’ll sue Trump’s administration to try to prevent him from firing her.

It marks the latest escalation in his dispute with the central bank over its cautious interest rate policy. The Fed has held rates steady since late 2024 over worries that Trump’s unpredictable tariff policy will reignite inflation. Trump has also threatened to fire Fed Chair Jerome Powell, often taunting him with name-calling. Still, he is only one of 12 votes that decides interest rate policy.

“We will continue to monitor rising political pressure on the Fed but expect its decision-making to remain guided by its mandate in the near term,” said Ulrike Hoffmann-Burchardi, chief investment officer for the Americas and global head of equities at UBS Global Wealth Management.

Wall Street is still betting that the Fed will trim its benchmark interest rate at its next meeting in September. Traders see an 87% chance that the central bank will cut the rate by a quarter of a percentage point, according to data from CME Group.

The two-year Treasury yield, which more closely tracks expectations for Fed action, slipped to to 3.68% from 3.73% late Friday.

The Federal Reserve spent much of the last several years fighting rising inflation by raising interest rates. It managed to mostly tame inflation and avoided having those higher rates stall economic growth, thanks largely to strong consumer spending and a resilient job market.

The Fed started shifting its policy by cutting its benchmark interest rate late in 2024 as the rate of inflation neared its target of 2%. It decided to hit the pause button heading into 2025 over concerns that Trump’s unpredictable tariff policy could reignite inflation. Lower interest rates make borrowing easier, helping to spur more investment and spending, but that could also potentially fuel inflation.

The Fed and Wall Street will get another update on inflation Friday, when the U.S. releases the personal consumption expenditures index. Economists expect it show that inflation remained at about 2.6% in July, compared with a year ago. Businesses have been warning investors and consumers about higher costs and prices because of tariffs.

The Fed has recently become more worried about the state of the employment market, which has shown signs of weakening. Aside from keeping inflation in check, the central bank is tasked with using its tools to help maintain a healthy job market. It will get another big update on the employment market in early September, ahead of its next policy meeting.

Consumer confidence declined modestly in August as anxiety over a weakening job market grew for the eighth straight month. The small decline from The Conference Board’s monthly survey was mostly in line with economists’ projections.

Crude oil prices fell. European and Asian markets closed lower.

All told, the S&P 500 rose 26.62 points to 6,465.94. The Dow gained 135.60 points to 45,418.07, and the Nasdaq added 94.98 points to 21,544.27.

ASX 200 expected to rise​

The Australian share market looks set to rebound on Wednesday following a decent night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 47 points or 0.55% higher this morning.
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Wall Street capped a choppy day of trading Tuesday with slight gains for stocks, leaving the major indexes just below their recent all-time highs.

The S&P 500 closed 0.4% higher after wavering between small gains and losses for much of the day. The benchmark index finished just 2.6 points below its record high set earlier this month and short of recouping all of its losses from the day before.

The Dow Jones Industrial Average also bounced back from an early slide, finishing with a 0.3% gain. The Nasdaq composite added 0.4%.

The market’s uneven start to the week comes after Wall Street notched big gains last week on hopes for interest rate cuts from the Federal Reserve.

All told, the S&P 500 rose 26.62 points to 6,465.94. The Dow gained 135.60 points to 45,418.07, and the Nasdaq added 94.98 points to 21,544.27

Wall Street edges higher and pushes S&P 500 to another record​

By ALEX VEIGA
Updated 8:20 AM GMT+10, August 28, 2025

Modest gains on Wall Street lifted the stock market to an all-time high Wednesday ahead of a highly anticipated earnings update from computer chip giant Nvidia.

The S&P 500 rose 0.2%, good enough to nudge the benchmark index past the record high it set two weeks ago. The Dow Jones Industrial Average rose 0.3% and the Nasdaq composite closed 0.2% higher.

Technology companies led the way higher, outweighing declines in communication services and other sectors.

After the market closed, Nvidia reported quarterly earnings and revenue that topped Wall Street analysts’ forecasts, though the company noted that sales of its artificial intelligence chipsets rose at a slower pace than analysts anticipated. The stock fell 3.2% in after-hours trading after having slipped 0.1% during the regular session.

Investors consider Nvidia a barometer for the strength of the boom in artificial intelligence because the company makes most of the chips that power the technology. Its heavy weighting also gives Nvidia outsized influence as a bellwether for the broader market.

“Saying this is the most important stock in the world is an understatement,” said Jay Woods, chief global strategist at Freedom Capital Markets. “The stock’s average move after an earnings release is plus or minus 7.4%, so just an average move will make an impact on the entire market.”

Several big software companies -- CrowdStrike Holdings, ServiceNow, Palo Alto Networks, Intuit and Salesforce -- rose ahead of the Nvidia results.

The stocks have been mostly in the red so far this quarter amid worries that AI is going to make software creation much easier at the expense of big software companies’ competitive edge.

Cracker Barrel shares climbed 8% after the restaurant company scrapped plans to change its logo following an uproar on social media that even drew a comment from President Donald Trump.

Shares in several companies rose after they reported quarterly results that topped analysts’ forecasts. Department store chain Kohl’s vaulted 24% and database platform company MongoDB surged 38%. Both companies also raised their full-year guidance.

J.M. Smucker slid 4.4% after the jelly and jam maker’s latest quarterly snapshot fell short of analysts’ estimates.

Among other stocks that lost ground: doughnut shop chain Krispy Kreme, which fell 3.5%, and Paramount Skydance, which dropped 6.5% for the biggest decline among S&P 500 companies.

Treasury yields mostly fell in the bond market. The yield on the 10-year Treasury slipped to 4.24% from 4.26% late Tuesday.

Crude oil prices rose. European markets finished mostly lower and Asian markets closed mixed overnight.

Trading on Wall Street is off to an uneven start this week following big gains last week on hopes for interest rate cuts from the Fed.

Markets have been subdued after Trump escalated his fight with the central bank by trying to fire Federal Reserve Governor Lisa Cook. Cook’s lawyer said she’ll sue Trump’s administration to try to stop him.

Trump has been feuding with the central bank over its cautious interest rate policy. The Fed has held rates steady since late 2024 over worries that Trump’s unpredictable tariff policies will reignite inflation. Trump has also threatened to fire Fed Chair Jerome Powell, often taunting him with name-calling. Still, he is only one of 12 votes that decides interest rate policy.

For now, the situation isn’t expected to have a major impact on the Fed’s near-term policy.

The two-year Treasury yield, which closely tracks expectations for Federal Reserve action, dropped to 3.62% from 3.68%.

Traders are still betting the Fed will trim its benchmark interest rate at its next meeting in September. Traders see an 90.3% chance that the central bank will cut the rate by a quarter of a percentage point, according to data from CME Group.

“It’s kind of a foregone conclusion from the market that we’re going to get the September interest rate cut,” said Jed Ellerbroek, portfolio manager at Argent Capital Management. “The bigger question is probably ‘What’s after that?’ ”

The Federal Reserve cut its benchmark interest rate in late 2024 after spending the last several years fighting rising inflation by raising rates. It managed to mostly tame inflation and avoided having those higher rates stall economic growth, thanks largely to strong consumer spending and a resilient job market.

The Fed hit the pause button heading into 2025 over concerns that higher tariffs imposed by Trump could reignite inflation. Lower interest rates make borrowing easier, helping to spur more investment and spending, but that could also potentially fuel inflation. However, concerns are deepening over the jobs market.

Economic data is relatively light this week until Friday, which will bring another update on inflation: the U.S. personal consumption expenditures index. Economists expect it to show that inflation remained at about 2.9% in July, compared with a year ago. Businesses have been warning investors and consumers about higher costs and prices because of tariffs.

Steep tariffs placed by the Trump administration on India over Russian oil purchases took effect Wednesday, bringing the combined tariffs imposed on the U.S. ally to 50%.

All told, the S&P 500 rose 15.46 points to 6,481.40. The Dow added 147.16 points to 45,565.23, and the Nasdaq climbed 45.87 points to 21,590.14.

ASX 200 expected to edge higher​

The Australian share market looks set to rise slightly on Thursday following a decent night on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 3 points higher this morning.
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Modest gains on Wall Street lifted the stock market to an all-time high Wednesday ahead of a highly anticipated earnings update from computer chip giant Nvidia.

The S&P 500 rose 0.2%, good enough to nudge the benchmark index past the record high it set two weeks ago. The Dow Jones Industrial Average rose 0.3% and the Nasdaq composite closed 0.2% higher.

Technology companies led the way higher, outweighing declines in communication services and other sectors.

All told, the S&P 500 rose 15.46 points to 6,481.40. The Dow added 147.16 points to 45,565.23, and the Nasdaq climbed 45.87 points to 21,590.14.

Stocks add a bit to their records on Wall Street​

By ALEX VEIGA
Updated 7:43 AM GMT+10, August 29, 2025

Wall Street notched more milestones Thursday after gains in technology stocks helped push the market to another all-time high.

The S&P 500 rose 0.3%, lifting the benchmark index to its second record high in a row. The Dow Jones Industrial Average reversed an early slide and gained 0.2%, enough to move past its record high set last Friday.

The Nasdaq composite closed 0.5% higher, finishing just short of its all-time high set two weeks ago.

About 55% of the companies in the benchmark S&P 500 closed lower, but gains in the technology and communication services sectors offset losses elsewhere in the market. Broadcom rose 2.8%, Amazon added 1.1% and Google parent Alphabet finished 2% higher.

“We’re seeing a continuation of a theme that has been in place really all year long, and that is communication services, information technology, really the areas that are surrounding this incredible capital expenditure cycle, have been the primary beneficiaries,” said Bill Northey, senior investment director at U.S. Bank Asset Management.

Heading into the final day of trading in August, the S&P 500 and Dow were on pace for their fourth straight monthly gain, while the Nasdaq was closing in on its fifth.

The market’s latest gains came as traders pored over a mixed batch of earnings reports from big U.S. companies and new reports on the job market and U.S. economy.

Tech giant Nvidia fell 0.8% a day after reporting quarterly earnings and revenue that beat Wall Street analysts’ forecasts, though the company noted that sales of its artificial intelligence chipsets rose at a slower pace than analysts anticipated.

Investors consider Nvidia a barometer for the strength of the boom in artificial intelligence because the company makes most of the chips that power the technology. Its heavy weighting also gives Nvidia outsized influence as a bellwether for the broader market.

Shares in several retailers fell following their latest quarterly results.

Best Buy dropped 3.7% after the consumer electronics chain’s second-quarter snapshot was overshadowed by an outlook clouded due to the tariffs the U.S. is imposing on trading partners.

Despite also posting better-than-expected quarterly results, Urban Outfitters slid 10.7% after the retailer warned that it expects tariffs will increase pressure on its gross margins in the second half of the year.

Dick’s Sporting Goods fell 4.8% despite reporting second-quarter results that beat analysts’ expectations.

Victoria’s Secret & Co. gave up an early gain and closed 0.5% lower.

Burlington Stores bucked the trend. The retail chain climbed 5.3% after its latest earnings topped analysts’ estimates.

Elsewhere in the market, Spam maker Hormel sank 13.1% for the biggest decline among S&P 500 companies after its earnings fell short of Wall Street’s forecasts and the company cut its outlook for the year.

Traders also had their eye on new government reports on the job market and economy.

The Labor Department reported that applications for unemployment benefits fell last week, the latest sign that employers are holding onto their workers even as the economy has slowed.

The most recent government data suggests hiring has slowed sharply since this spring.

Meanwhile, the Commerce Department reported that U.S. gross domestic product —- the nation’s output of goods and services — grew at a 3.3% annual pace in the April-June quarter after shrinking 0.5% in the first three months of this year due to the fallout from the Trump administration’s trade wars.

“The GDP print reinforces the fact that this continues to be an economy, domestically, that is continuing to show a great deal of resilience in terms of producing economic growth,” Northey said.

Still, the sluggishness in the job market is a key reason that Federal Reserve Chair Jerome Powell signaled last week that the central bank may cut its key interest rate at its meeting next month.

Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow, but they risk worsening inflation.

Traders are still betting the Fed will trim its benchmark interest rate at its next meeting in September. Traders see an 85.3% chance that the central bank will cut the rate by a quarter of a percentage point, according to data from CME Group.

Friday will bring another update on inflation: the U.S. personal consumption expenditures index. Economists expect it to show that inflation remained at about 2.6% in July, compared with a year ago. Businesses have been warning investors and consumers about higher costs and prices because of tariffs.

Treasury yields were mixed in the bond market. The yield on the 10-year Treasury slipped to 4.21% from 4.24% late Wednesday. The two-year Treasury yield, which more closely tracks expectations for Federal Reserve action, rose to 3.63% from 3.62%.

All told, the S&P 500 rose 20.46 points to 6,501.86. The Dow added 71.67 points to 45,636.90, and the Nasdaq gained 115.02 points to close at 21,705.16.

European and Asian markets closed mixed.

ASX 200 expected to fall​

The Australian share market looks set to fall on Friday despite a good showing in the United States.

According to the latest SPI futures, the ASX 200 is expected to open 30 points or 0.35% lower this morning.
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Wall Street notched more milestones Thursday after gains in technology stocks helped push the market to another all-time high.

The S&P 500 rose 0.3%, lifting the benchmark index to its second record high in a row. The Dow Jones Industrial Average reversed an early slide and gained 0.2%, enough to move past its record high set last Friday.

The Nasdaq composite closed 0.5% higher, finishing just short of its all-time high set two weeks ago.

About 55% of the companies in the benchmark S&P 500 closed lower, but gains in the technology and communication services sectors offset losses elsewhere in the market. Broadcom rose 2.8%, Amazon added 1.1% and Google parent Alphabet finished 2% higher.

U.S. markets will be closed on Monday for the Labor Day holiday.

Stocks pull back from their latest all-time highs on Wall Street​

By ALEX VEIGA
Updated 7:09 AM GMT+10, August 30, 2025

Wall Street closed out another winning month Friday, even as stocks gave back some of their recent gains, pulling the market below its latest all-time highs.

The S&P 500 fell 0.6% a day after climbing to a record high. The benchmark index ended August with a 1.9% gain, its fourth straight month of gains. It’s now up 9.8% so far this year.

The Dow Jones Industrial Average also came off its own record high, slipping 0.2%, while the Nasdaq composite closed 1.2% lower.

“The reason the market is down today is primarily because we are heading into a long weekend, and a lot of traders don’t like to have a hefty exposure over a long weekend because of the news that could come out and take them by surprise,” said Sam Stovall, chief investment strategist at CFRA.

Mixed economic data may also have given traders an excuse to sell and pocket some profits following the market’s milestone-setting week. A closely watched measure of inflation showed prices mostly held steady last month, and a survey of consumer sentiment came suggested Americans’ worries about the economy and prices intensified since July.

Losses in technology weighed on the market, offsetting gains in health care and other sectors.

Dell Technologies slid 8.9% for the biggest decline among S&P 500 stocks a day after the company reported second-quarter revenue that exceeded analysts’ expectations, but noted that margin pressures and weakness in PC revenue.

Among other tech companies that ended the day in the red: Tech giant Nvidia fell 3.3%, Broadcom dropped 3.6% and Oracle slid 5.9%.

The Commerce Department said prices rose 2.6% in July compared with a year ago, as measured by the personal consumption expenditures index. That’s the same annual increase as in June and in line with what economists expected.

Still, excluding the volatile food and energy categories, prices rose 2.9% last month from a year earlier, up from 2.8% in June and the highest since February.

While inflation is much lower than the roughly 7% peak it reached three years ago, it is still running noticeably above the Fed’s 2% target.

Still, Federal Reserve Chair Jerome Powell signaled last week that the central bank may cut its key interest rate at its meeting next month, amid signs of sluggishness in the job market.

The most recent government data suggests hiring has slowed sharply since this spring.

“Today’s in-line PCE Price Index will keep the focus on the jobs market,” said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. “For now, the odds still favor a September cut.”

Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow, but they risk worsening inflation.

Traders see a roughly 87% chance that the central bank will cut its benchmark interest rate next month by a quarter of a percentage point, according to data from CME Group.

Meanwhile, the latest reading in a survey of U.S. consumers by the University of Michigan showed sentiment soured this month. The final August reading is the lowest since May, reflecting heightened concerns about prices and the economy.

Treasury yields were mixed in the bond market. The yield on the 10-year Treasury rose to 4.23% from 4.21% late Wednesday. The yield on the two-year Treasury, which more closely tracks expectations for Federal Reserve action, slipped to 3.62% from 3.63%.

The Fed will get to review two more important inflation barometers before its next policy meeting, the producer price index and consumer price index. Unless those reports show a huge spike in inflation, the Fed is “almost guaranteed” to cut interest rates next month, said Chris Zaccarelli, chief investment officer for Northlight Asset Management.

Among the stocks that weighed on the market Friday were Ulta Beauty and Marvell Technology.

Ulta fell 7.1% despite posting second-quarter earnings and revenue that topped analysts’ estimates, while Marvell slid 18.6% after its third-quarter guidance fell short of what Wall Street was expecting.

Not all stocks lost ground. Petco Health & Wellness and Autodesk bucked the broader market slide after reporting better-than-expected quarterly results. Petco jumped 23.5% and Autodesk climbed 9.1%.

All told, the S&P 500 fell 41.60 points to 6,460.26. The Dow dropped 92.02 points to 45,544.88, and the Nasdaq gave up 249.61 points to close at 21,455.55.

European markets were mostly lower and Asian markets closed mixed.

U.S. markets will be closed on Monday for the Labor Day holiday.