US consumer prices rise moderately in July
August 10, 2023
three themes: US inflation cooler than expected, Wall Street up on data, ASX to slip
August 11, 2023Facebook icon
U.S. stocks were aiming for gains on Thursday, despite choppy trade after July inflation data showed price pressures in a lower trend. The Dow Jones Industrial Average DJIA, 0.36% was up about 143 points, or 0.4%, near 35,266, at last check, while the S&P 500 index SPX, 0.28% and Nasdaq Composite Index COMP, 0.35% were up 0.3% and 0.4%, respectively. Stocks have been volatile intraday in recent sessions. “This seems to be the new trend,” said Peter Cardillo, chief market economist, Spartan Capital Securities. “The market takes off like a powerhouse, and during the course of the session, loses steam. I think you can contribute that to intraday volatility.”
