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US stocks gain as inflation report raises interest rate cut
Business
On Friday, US stocks got a boost—S&P 500 climbed 0.8% near its record, Dow Jones added 267 points, and Nasdaq grew by 1% as of 9:35am.
Eastern time. Investors were upbeat after a fresh inflation report hinted the Fed might cut interest rates again soon, following its recent rate cut, with hopes for further cuts as the job market slows.
Situation of different companies
Big names like Intel (+5.3%), Ford (+7.7%), and Procter & Gamble (+2.1%) all saw shares rise after posting better-than-expected results.
But not every company joined the party—Newmont Mining dropped 7.1% even though it beat profit forecasts, as gold prices steadied.
Meanwhile, worries about the US national debt topping $38 trillion are still hanging around in the background.