Wall Street ends mixed as inflation data buoys optimism

Source: Reuters

“The S&P 500 ended lower and the Nasdaq higher on Thursday after U.S. inflation data matched estimates, underscoring expectations the Federal Reserve could pause its monetary tightening, while Salesforce climbed following an up upbeat forecast. The Nasdaq reached its highest in over four weeks after a Commerce Department report showed the Personal Consumption Expenditures (PCE) price index, considered the central bank’s preferred inflation gauge, climbed 3.3% in July on an annual basis, in line with expectations. … The S&P 500 declined 0.16% to end at 4,507.66 points. The Nasdaq gained 0.11% to 14,034.97 points, while Dow Jones Industrial Average (.DJI) declined 0.48% to 34,721.91 points. All three main indexes posted losses for August, with the S&P 500 and Nasdaq logging their first monthly declines since February. For the month, the S&P 500 fell 1.8%, the Dow fell 2.4% and the Nasdaq fell 2.2%.” (08/31/23)