Markets

S&P 500 hits record as inflation view turns iffy: Markets wrap

S&P 500 hits record as inflation view turns iffy: Markets wrap

US stocks closed modestly higher Friday, notching record highs for several major USA indexes. For the day, the Dow Jones Industrial Average closed at 21553.09 for a gain of 20.95 points or 0.10%.

The S&P climbed 0.6 percent to close at 2,459.27, setting intraday and closing records.

The Nasdaq composite added 13.27 points, or 0.2 percent, to 6,274.44.

The S&P 500 is up 34.09 points, or 1.4 percent.

Retail sales also unexpectedly dropped for a second month in June, signaling consumers are providing only modest support for the US economy and suggesting a weaker than hoped for rebound in GDP in the second quarter. The soft June consumer price index number continues more than a quarter of poor progress at a time when some Fed officials are hinging their support for further rate rises on the inflation outlook in this figure.

South African Jazz legend Ray Phiri has passed away
Some of Stimela's hits include Whispers in the Deep and Phinda Mzala , a fusion of jazz with an African twist. Stimela and Phiri remained popular among South Africans. with their concerts attracting large crowds.

The Russell 2000 index of smaller-company stocks picked up 3.16 points, or 0.2 percent, to 1,428.82, a record.

US stocks closed higher Thursday, led by modest gains in banks and technology companies.

The Nasdaq is up 891.32 points, or 16.6 percent. The VIX Volatility Index was lower for the day at 9.90 for a loss of -0.40 points or -3.88%. For the week, the Dow was up 1% while the S&P was up 1.4% and the Nasdaq was up 2.6%.

The Producer Price Index increased 0.1% for the month and 2% for the year.


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