Stock Market Update: Mixed and Low-Key Trading on Wall Street Before New US Inflation Data
The stock market was a bit up in a holding pattern today as we await new data on inflation in the US. Seems like Wall Street is playing it cool. The S&P 500 futures nudged up ever so slightly, while Dow Jones Industrial Average futures dipped just a tad before the start of trading.
We’ve got our eyes on Wednesday, when the US will give us the lowdown on consumer inflation numbers for last month. Experts are thinking things might be pretty stable. Then, on Thursday, we’ll get the skinny on inflation at the wholesale level for November. This is all leading up to the Federal Reserve’s meeting next week, where it’s looking likely we’ll see another cut to interest rates – the third time this year.
The Oracle stock took a bit of a tumble, down 7%, after falling short of expectations for sales and profits in the second quarter. But on the flip side, Homebuilder Toll Brothers did beat those same expectations, only to see their stock dip 3.5% in premarket trading.
Vail Resorts bucked the trend, soaring 3.8% after they announced a smaller loss than predicted for their first quarter, which is typically slow for them. Pass sales might be down, but they’ve bumped up prices enough to offset that drop.
In Europe, we’re seeing a mix of results: Germany’s DAX index in the green, but France’s CAC 40 and Britain’s FTSE 100 in the red. Over in Asia, there’s a bit of back and forth, with the Shanghai Composite climbing and Hong Kong’s Hang Seng losing ground as investors booked profits from earlier gains.
China is making moves with their monetary policy, shifting away from cautious to a more relaxed stance for the first time in a decade. Economic worries continue there, with weaker than expected exports and a quiet demand bringing about uncertainty.
Back in the US, oil prices fell while the dollar rose against the yen and euro. We’re still waiting to see the full impact, but it’s worth keeping an eye on these trends. Stay tuned for more updates as the week unfolds!
