Benchmark indexes closed up 3% in the week and extended two-month advances. Bond yield inched lower and crude oil and natural gas prices closed down. Investors are hoping the sliding energy prices are easing press
The S&P 500 index is set to extend its winning streak to the fourth week in a row and gains for the eighth week from the lows in mid-June. Inflation peaking narrative is driving the two-month-long market rally.
Benchmark indexes lacked energy after the early morning advance and drifted to lower levels in a volatile session. U.S. weekly jobless claims rose and producer prices eased on a monthly basis.
Bumble lowered its revenue outlook for the full-year. Warby Parker reported a larger loss and lowered its full-year revenue outlook. Walt Disney reported strong attendance at theme parks. Six Flags said guest arrivals dropped.
Benchmark indexes extended gains for the second day after the second report on inflation showed a slight decline in as many days after energy prices eased.
Benchmark indexes in Asia closed higher following the rise in the U.S. and Europe. Asian markets advanced on the hopes that the cooling of inflation in July in the U.S. may moderate future interest rate hikes.
Global markets advanced with the cooling of consumer prices in the U.S., Germany, and China. Tech powered rally led the S&P 500 and the Nasdaq Composite to three-month highs.
Coinbase said assets held and trade volume on the platform plunged. Sweetgreen said it plans to trim staff and operating expenses and take a charge in the next quarter. Tesla chief sells stake, Trade Desk soars on revenue optimism.
Stocks on Wall Street surged after consumer inflation eased but stayed near four-decade high. The decline in gasoline prices in the month was wiped out by the rise in food and housing costs.
Consumer prices remained high but the growth moderated after energy prices eased in July. Core index, which excludes food and energy prices, rose on a monthly and annual basis.
The Nasdaq Composite index fell for the third day in a row. Semiconductor sector led the decliners on weak demand for memory chips and high-end graphic processors.
Benchmark indexes gave up morning gains following three weeks of rise in a row. Crude oil traded volatile after a fire at Cuba's central fuel storage engulfed a third large tank on Monday.
Berkshire Hathaway swung to a quarterly loss on but earnings soared on rising insurance-investment income. Barrick Gold said gold production was stable but copper production rose in the second quarter. Nvidia plunged after missing its revenue outlook.
Stocks on Wall Street rested after advancing for three weeks in a row. Tech stocks fell after Nvidia reported a large shortfall in revenues. Investors looked ahead to the inflation report on Wednesday.
