NEW YORK (Reuters) – The New York Stock Exchange ended lower on Friday, after initial gains, following the publication of PCE inflation figures and in a tense political context following the presidential debate, while Nike fell to values.
The Dow Jones index fell 0.11%, or 41.12 points, to 39,122.94 points.
The broader Standard & Poor’s 500 lost 22.57 points, or 0.41 percent, to 5,460.30.
The Nasdaq Composite fell 126.08 points, or 0.71%, to 17,732.60 points.
The Commerce Department released figures on U.S. PCE inflation, which stabilized in May on a monthly basis and slowed to 2.6% on a year-over-year basis.
After the publication of this statistic, the probability of a rate cut by the Federal Reserve (Fed) in September increased to 68% from 61% previously.
The televised debate between Joe Biden and his rival Donald Trump also weighed on trading, according to Thomas Martin, portfolio manager at Global Investment, citing the White House tenant’s feverish performance.
“People are trying to find out what will happen with the presidential election. This debate has contributed to increasing uncertainty, not to lowering it,” he underlines.
In terms of values, Nike plunged 19.98% after announcing that it anticipated a drop in its turnover for the 2025 financial year.
(Paris editorial team)
©2024 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.