logo

This website uses cookies to ensure you get the best experience on our website.

Read through the Privacy Policy to understand better

 Go Back

US stocks rally as investors anticipate easing inflation

By Yashasvini Razdan - Aug 18, 2022, 05:17 PM ET
Last Updated - Jul 18, 2023, 04:31 PM EDT
US stocks rally as investors anticipate easing inflation

• Thursday’s move bring the Dow and S&P 500 into positive territory for the week, up 0.7% and 0.08%


US stocks finished slightly higher on Thursday as investors weighed the minutes of the Federal Reserve’s July meeting that indicated policy makers were prepared to keep lifting rates.

The Dow Jones Industrial Average rose 18.72 points, or less than 0.1%, closing at 33,999.04. The S&P 500 rose 9.70 points, or 0.2%, ending at 4,283.74. The Nasdaq Composite gained 27.22 points, or 0.2%, to finish at 12,965.34.

On Wednesday, the Dow Jones Industrial Average fell 172 points, or 0.5%, to 33980, snapping a five-day winning streak, while the S&P 500 declined 0.7% and the Nasdaq Composite dropped 1.3%.

Market movers

The 10-year Treasury yield declined 1.5 basis points to 2.879%.

Amid a run-up  shares of Bed Bath & Beyond Inc. fell 19.6% after GameStop Corp. Chairman Ryan Cohen disclosed he’s planning to sell his big stake in the company just months after he bought it.

Cisco Systems Inc.  rose 5.8% after the company forecast stronger-than-expected revenue growth in the months ahead when it reported its second-quarter earnings Wednesday night.

Shares of Kohl’s Corp. tumbled 7.7% after the department store chain reported fiscal second-quarter profit that missed expectations.

Also read:

US inflation jumps to 9.1%, highest rate since 1981 as consumer pressures intensify

Fed raises interest rates by 75 basis points

Sponsored
Sponsored
Sponsored
Our Offices
  • 10kInfo, Inc.
    13555 SE 36th St
    Bellevue, WA 98006
    Phone: +1 (425) 414-0184
  • 10kInfo Data Solutions, Pvt Ltd.
    Claywork Create
    11 km, Arakere Bannerghatta Rd, Omkar Nagar, Arekere,
    Bengaluru, Karnataka 560076
    Phone: +91 80 4902 2100
4.2 20250324