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Wall Street Ends Lower, Closes Out First Losing Month Since February

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.
By Damian J. Troise and Alex Veiga | August 31, 2023 | 4:33 p.m. ET.

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.

The government reported that a measure of inflation closely tracked by the Federal Reserve remained low in July. The latest update for personal consumption and expenditures, or the PCE report, is the latest sign that price increases are cooling. Investors are hoping the Fed may be close to done raising interest rates.

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