S&P 500, Nasdaq eke out gains even as Alphabet weighs

Quick Summary:

The S&P 500 ended higher on Wednesday, stretching its winning streak to five sessions, as the latest inflation data reassured investors betting the Federal Reserve would start cutting US interest rates next month.

Shares of Alphabet, the Google-parent, dropped 2.3% on a media report that the US Department of Justice is considering options that include breaking up the online search engine.

The seven trading sessions it took the VIX to return to its long-term median of 17.6 is the index’s quickest ever drop from 35, a level associated with a high degree of fear, according to a Reuters analysis.

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Category: EconomyBusiness

Markets: Malaysia

Topics: InflationData Markets SP500 NasdaqComposite TechStocks FederalReserve /Business/ InterestRates

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-15 @ 07:20:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 654 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22081791

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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