Stocks gave up early gains and closed lower, a downbeat end to the market’s first losing month since February. The S&P 500 ended with a loss of 0.2%, breaking a four-day winning streak. The Dow fell 168 points, or 0.5%. The Nasdaq edged up 0.1%. Treasury yields fell. The government reported that the measure of inflation that’s closely tracked by the Federal Reserve remained low last month. That’s the latest sign that price increases are cooling. Investors are hoping the Fed may be close to done raising interest rates. Discount retailer Dollar General sank 12.2% after cutting its profit forecast for the year.
For a second time, Musk offered to buy the San Francisco company at $54.20. Twitter’s stock jumped nearly 13% to $47.93 Tuesday before trading stopped on the New York Stock Exchange, which listed “news pending” as the reason for the halt.
Stocks turned lower on Wall Street in afternoon trading Friday, shedding all their gains from an early rally that followed the release of the government’s latest job market update. The report, which showed employers slowed their hiring in August, initially put traders in a buying mood, stoking cautious optimism that the Federal Reserve may not need to raise interest rates as aggressively in its ongoing bid to tame inflation. But the gains faded by mid-afternoon.
Stocks are modestly lower in choppy afternoon trading Wednesday as Wall Street closes the books on a rocky August that started off strong, but left the market deeper in the red.
As New York City slowly reopens for business, one of the world’s most popular and historic business television studios is making plans to reopen as well. The floor of the New York Stock Exchange, which has been closed to the media since March of last year because of the COVID-19 epidemic, could be eyeing a possible September return, according to people with direct knowledge of the Big Board’s thinking on the matter.
CEO Hilton Howell and other execs will ring the exchange’s closing bell on Jan. 11 to mark the company’s purchase of Raycom Media. Gray has been traded on the exchange since 1995.
