US Stock Market Today: Fed’s Inflation Data Keeps Bullish

US Stock Market Today: Fed's Inflation Data Keeps Bullish

Yahoo Finance: – US markets were largely flat on Friday afternoon as investors processed the implications of the Biden-Trump debate and as the most recent reading from a carefully monitored inflation measure continued a theme of declining prices.

After closing one step closer to its record high, the benchmark S&P 500 (^GSPC) gained about 0.1%. The Dow Jones Industrial Average (^DJI) increased by roughly 0.1%, while the tech-heavy Nasdaq Composite (^IXIC) decreased by 0.1%.

The S&P 500 and the Nasdaq recovered from a three-day losing run this week, and the indexes are aiming for a generally positive finish. As the last trading day of June approaches, equities are poised to close out a fantastic first half but those fluctuations have stoked concerns about a year-end decline.

The Fed’s preferred inflation gauge provided the final noteworthy data point for the first half of the year. Josh Schafer of Yahoo Finance stated that while prices rose at their weakest rate since March 2021 inflation decreased in May.

Wall Street anticipated that the core Personal Consumption Expenditures (PCE) index, which excludes the price of food and energy and is regularly tracked by the Fed would increase by 0.1% in May over the previous month.

In the meantime investors saw President Joe Biden’s lackluster performance in his first debate against presumed Republican contender Donald Trump, given how high the stakes were for the US election in November. Stocks are expected to rise as a result of the former president’s promised tax cuts and trade restrictions. During the afternoon session Trump Media & Technology Group (DJT) shares had a loss of almost 5%.

Additionally, as major corporations highlight gloomy sales expectations, the market is watching for additional indications that consumer resilience is waning. Following a 22% decline on Thursday, shares of Walgreens (WBA) were largely unchanged, while Nike (NKE) saw a 20% decline in afternoon trading.

US Stock Market Today Trending in Afternoon Trading

These are a few of the stocks that were trading most strongly on Yahoo Finance’s trending tickers page on Friday afternoon.

Uber (UBER): After agreeing to settle a lawsuit in Massachusetts that contested drivers’ employment status as independent contractors, the ride-hailing business and its main rival Lyft (LYFT) saw gains of 4% and 5%, respectively.

Standard minimum pay and sick leave were among the advantages that the companies promised to provide to their employees.

Trump Media & Technology Group (DJT): The company’s shares increased following the first presidential debate of 2024 which featured a match between former President Donald Trump and current Chief of Staff Joe Biden However the shares then experienced a roughly 2% decline.

Most others thought Biden’s presentation was shaky and filled with confused moments, which gave the appearance that Trump had won the evening. Truth Social, Trump’s social media platform, is owned by the firm.

Nike (NKE): After the firm predicted a higher-than-expected sales decline in 2025, with an anticipated 10% fall in the first quarter, the sports clothing retailer saw its stock plummet by over 20% on Friday afternoon.

Walgreens (WBA): The drugstore chain was hovering around the flatline on Friday following a 22% drop in the previous session when it revealed weak earnings and plans to close hundreds of stores across the country.

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