HomeFinancial MarketsS&P 500 and Nasdaq Post August Losses, Ending Winning Streak

S&P 500 and Nasdaq Post August Losses, Ending Winning Streak

New York stocks closed on a mixed note on the final day of trading in August, with all three major averages incurring a monthly loss. This saw an end to a five-month winning streak for both the S&P 500 and the Nasdaq Composite indices.

The S&P 500 slipped by 0.16% on the last day of August, while the Dow Jones Industrial Average fell by 0.5%. The Nasdaq Composite gained 0.11% for its fifth consecutive winning day, however, this wasn’t enough to avoid a monthly loss. The S&P 500 suffered its worst month since February, while the Dow Jones had its worst month since May. For the teach-heavy Nasdaq, this was the worst monthly performance since last November.

On Thursday, the Personal Consumption Expenditures (PCE) Index showed that the Federal Reserve’s preferred inflation gauge rose in July, with both headline and core readings falling in line with Wall Street expectations.

PCE Inflation Report Threatens to Delay Fed Rate Cuts

Investors are bracing for the release of the Personal Consumption Expenditures (PCE) report on Thursday, with markets concerned that hotter-than-expected inflation data could further...

U.S. Futures Decline Ahead of Inflation Report

Futures on the New York Stock Exchange declined on Wednesday ahead of a crucial inflation report that is expected to provide insight into the...

Stocks Hold Steady Ahead of Inflation Report

U.S. equities remained largely muted on Tuesday after reaching all-time highs as investors awaited the release of a crucial inflation report. The PCE index,...