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US markets rise ahead of key inflation report

by SuperiorInvest

Key things

  • Major U.S. stock indexes faltered before ending higher on Feb. 23 as investors awaited an inflation report that could influence the Fed’s monetary policy decision.
  • The S&P 500 ended a streak of four consecutive days of decline, while the Dow and Nasdaq also moved higher.
  • Nvidia ( NVDA ) was the top performer on the S&P 500 as it highlighted demand for its artificial intelligence (AI) chips.

U.S. stocks ended higher on Thursday, February 23, after swinging between gains and losses ahead of a highly anticipated inflation report due on Friday, which is preferred by the FED in determining Monetary Policy. Markets started the day up, went into the negative and recovered in the afternoon. The S&P 500 snapped a four-day losing streak.

Nvidia (NVDA) was the top-performing stock in the S&P 500 after the semiconductor maker reported demand for its artificial intelligence (AI) the chips are soaring and raised his leadership. Shares of Advanced Micro Devices (AMD), a rival in the AI ​​chip market, also acquired After Nvidia in the index was ANSYS (ANSS) as shares jumped after the engineering software maker reported better-than-expected profit and revenue.

Oil futures had their first winning session since Feb. 13, and that helped lift shares of Chevron (CVX) and other fossil fuel providers. United Airlines (UAL) shares took off on the basis of an agreement between the carrier and Air Canada to increase the number of flights between American and Canadian cities. Iron Mountain (IRM) management beat estimates and shares of the information management services company rose.

Domino brings a dim view

Domino’s Pizza (DPZ) shares fell after the world’s largest pizza chain said higher delivery fees and menu prices hurt demand and cut its sales outlook. Moderna’s (MRNA) Sales of COVID-19 vaccines fell and costs rose, cutting into the drugmaker’s revenue and sending shares lower. Three major electric vehicle (EV) manufacturers—Nikola Corporation (NKLA), Lordstown Motors (DRIVE) and Lucid Group (LCID)—announced issues that led to the sale of their shares. Netflix (NFLX) shares fell as the streaming service cut subscription prices in more than 100 countries.

The the yield on the 10-year government bond he refused. Gold prices fell. The US dollar strengthened against the euro and the pound, but lost ground against the yen. Main, important cryptocurrencies they exchanged.


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