June 14, 2024

Stock market today: Live updates

On May 17, 2024, dealers at the New Yorƙ Stock Exchange worked on the floor.

Brendan Mcdermid | Reuters

Tuesday evening, as investors waited the Federal Reserve’s interest rate determination and May’s consumer prices information, stock futures oscillated near the flatline.

Future tied to the Dow Jones Industrial Average slipped 25 points, or 0.06%. S&P 500 futures inched lower by 0.01%, while Nasdaq 100 futureswere much changed.

In prolonged investing, Oracle jumped 9% as traders fixated on the software maker’s newly announced cloud deals with Google and OpenAI, overlooking misses in the company’s latest quarter.

During Tuesday’s trading, investors ‘ spin into Apple helped raise the S&amp, P 500 and the Nasdaq Composite to new final peaks. At its creator conference this week, the phone maker made an announcement about its interest in artificial intelligence, which fueled a stock rally. The Dow was the exception of the three main percentages, losing 0. 31 %.

Investors are anticipating the Fed’s two-day plan meeting’s finish on Wednesday, which will include α rate decision and a press conference with Fed Chαir Jerome Powell.

The business will be monitoring for central bankers ‘ updates to their Summary of Economic Projections, which may help determine the direction of policy, even though the market’s prices indicates that the Fed will continue to maintain its standard immediately loans rate in a range between 5. 25 %- 5. 05 %. Traders have grown increasingly concerned that a higher-for-longer interest rate environment is supported by the latest powerful jobs report and thick prices.

” The business will be focused on any mention—within the Fed speech, the circle story, or Chair Powell’s feedback —of concerns regarding the labour market, given Powell’s remarks that indications of deterioration may prompt the easing of rates”, said Quincy Krosby, chief global strategist for LPL Financial.

May’s consumer price index print, α broαd measure of goods and services costs, will also be released on Wednesday morning. The report is anticipated to have a 0. 1 % increase from April and a 3. 4 % increase over the course of the forecasted year.

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