NEW YORK, Sept 30 — Wall Street stocks were little changed early today in the final session of another brutal week defined by worries over inflation and a potential recession.
A closely-watched measure of US inflation released Friday showed the annual pace of price increases slowed slightly in August compared with the prior month.
However, price increases still exceeded analyst expectations, a dynamic that will likely keep the Federal Reserve on its current path to hike interest rates.
Stocks have fallen much of the week, with a controversial tax cut package by Britain's new Prime Minister Liz Truss exacerbating volatility in financial markets.
Analysts also cited Friday's move by Russia to annex four Moscow-occupied Ukrainian regions as another headwind for markets.
About 30 minutes into trading, the Dow Jones Industrial Average was down 0.2 per cent at 29,160.01.
The broad-based S&P 500 slipped 0.1 percent to 3,636.85, while the tech-rich Nasdaq Composite Index edged up 0.1 percent to 10,744.94.
Among individual companies, Nike plummeted 11.6 per cent after reporting lower profits as the company marks down less-desired merchandise in North America amid an inventory glut and shifting consumer market challenged by inflation. — AFP
Source: Malay Mail
A word from our sponsor:
Need Help With Your Personal Finance / Money Issue or need a coach to help you structure or just want to learn the financial skill to self manage your financial matters and retirement. iLearnFromCloud.com
Need to solve a problem quickly, now you can solve it by learning the art of problem solving Art Of Problem Solving
Feeling hungry. Latest food news from Best Restaurant To Eat Malaysian Food and Travel Blog
Memory loss. Need to organize better. Solve problem fast with Free Mind Mapping Software Mind Mapping 101
Need A Customized System Development for your business or Going Paperless XPERT TECHNOLOGIES - Empowering The Paperless Economy
No comments:
Post a Comment