Wall Street Eyes Key Economic Data - Photo by Pixabay on Pexels.com
Wall Street ended mixed while US headline inflation is rising. The Dow Jones slipped 0.04%, while the S&P 500 rose 0.26% and Nasdaq gained 0.54%.
July US CPI was broadly in line with expectations, with headline inflation rising 0.1% month-on-month and 3.4% year-on-year, while core inflation increased 0.2% month-on-month and 2.5% year-on-year.
The softer inflation reading lifted expectations that the Federal Reserve could maintain its current stance, with September rate-hold odds rising to around 60%. Strong AI-related earnings also continued to support US equities.
Oil, however, remains a key risk. Brent hovered around US$89 while WTI traded near US$83 amid renewed concerns over shipping security and Middle East supply following attacks on vessels in the Red Sea and Gulf of Oman.
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