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Another good news? US Michigan consumer confidence hit an eight-month low in July, with both short- and long-term inflation expectations falling.
Although people's long and short-term inflation expectations have fallen back, the University of Michigan's Consumer Sentiment Index in the United States in July still hit an eight-month low, with sub-indices falling below expectations. Consumers are still very frustrated with continued high prices, and their views on current and future financial conditions have deteriorated to the lowest level since October last year.
Top 20 turnover | Tesla rose and fell, closing up nearly 3%; Wells Fargo & Co. fell more than 6%, with net interest income below expectations.
On Friday, Tesla ranked first in the trading volume of US stocks, closing up 2.99% with a turnover of $38.54 billion; Nvidia ranked second, closing up 1.44% with a turnover of $32.817 billion; Apple ranked third, closing up 1.31% with a turnover of $12.257 billion.
Stocks Close in the Green as Latest Economic Data Boosts Rate Cut Expectations for September | Wall Street Today
Stocks closed higher, with new economic data strengthening expectations for a Federal Reserve rate cut in September.
Dow Hits All Time High Friday, While Consumer Confidence Lowered
As a general recap, the market was advancing, and the S&P 500 and Nasdaq climbed higher after a one-day pullback. Shortly after 10:20 am EST, the $S&P 500 Index(.SPX.US)$ climbed 0.51%, the &
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As June's Consumer Price Index (CPI) indicates a slight deceleration in inflation, rising to 3% from the previous year, investors are recalibrating their portfolios, pivoting away from the large-cap technology and that have propelled market indexes to record peaks.