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Trump talks up trade deals with China, but experts see no big wins for U.S. CBS NewsWhat Trump Gained, and Didn't, From China The New York TimesTrump in China: US president concludes 'very successful' talks with Xi in Beijing BBCChip Stocks Slide After U.S.-China Summit Ends Without Major Tech Deals WSJTrump news at a glance: president's China trip was heavy on hype, li
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Appaloosa sold off its entire positions in Delta, American and United, while loading up on shares of Amazon and Uber.
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Stocks dragged lower as traders price in US interest rate rises after worse than expected data releases
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Berkshire Boosted Stake in Alphabet in First Quarter, Bought Delta Air, Sold Visa, Mastercard Barron'sBerkshire Hathaway returns to airlines with $2.6 billion stake in Delta Air Lines CNBCBerkshire triples Alphabet stake and buys Delta stock while dumping Amazon in Greg Abel's first quarter as CEO FortuneBerkshire's Abel sours on some of Warr
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Dow loses more than 500 points Friday as tech slumps and yields spike: Live updates CNBCStock Market Today: Dow Falls 400 Points Lower on Oil Price Fears — Live Updates WSJThe Global Bond Rout Catches Up With Wall Street's Risk Rally Bloomberg.comStock market today: Dow, S&P 500, Nasdaq sink as yields jump amid inflation jitters Yahoo Finance
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Stocks stabilized Wednesday after Tuesday's hotter-than-expected inflation data sparked Wall Street's worst selloff in over two years.
Inflation remained in focus today with the early morning release of the producer price index (PPI) for August. Similar to yesterday's consumer price index (CPI), the PPI - which measures what suppliers are charging for goods and services - rose at a slower annual clip in August than it did in July. However, on a month-over-month basis, both PPI and core PPI, which excludes energy and food prices, were up from July's figures.
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"There is a divergence in headline and core inflation building, where headline is cooling and core is heating up," says Jamie Cox, managing partner at Harris Financial Group. "That's an odd phenomenon and likely influenced by the shift from goods to services post-pandemic. The Fed should proceed with caution and not hit the emergency brake on rate hikes."
While yesterday's selling was broad-based, today's action was more mixed. In terms of sector performance, real estate (-1.2%) and materials (-1.2%) were the biggest laggards, while energy ( 2.8%) outperformed as U.S. crude futures rose 1.3% to settle at $88.48 per barrel.
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As for the major indexes, the Nasdaq Composite ended up 0.7% at 11,719, while the S&P 500 Index ( 0.3% at 3,946) and the Dow Jones Industrial Average ( 0.1% at 31,135) also finished with mode
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