4 Mins Ago
ISM PMI comes in cooler than expected
The ISM non-manufacturing purchasing managers index came in under expectations for March.
The index registered 51.4 for the month. That’s under the 52.7 consensus estimate of economists polled by Dow Jones. It also marks a decline from February’s 52.6 reading.
— Alex Harring
42 Mins Ago
S&P 500 opens lower
The S&P 500 kicked off Wednesday lower, putting the broad index on track for a third straight losing day.
The broad index lost 0.1% shortly after 9:30 a.m. ET, while the Nasdaq Composite tumbled 0.4%. The Dow slipped around 0.1%.
— Alex Harring
An Hour Ago
Atlanta Fed President sees one rate cut in 2024
Atlanta Federal Reserve President Raphael Bostic said Wednesday that he only expects one decrease to interest rates this year. It will likely occur in the fourth quarter, he said.
Bostic is one of several central bank officials speaking to media and at events around the U.S. on Wednesday.
— Alex Harring, Jeff Cox
An Hour Ago
Stocks making the biggest moves premarket
These are some of the stocks making the biggest moves in premarket trading:
For more big movers, check out our full list here.
— Tanaya Macheel
An Hour Ago
Private payroll data comes in hotter than anticipated
Companies added more workers than economists forecasted in March, offering another sign of continued strength in the economy.
ADP data reported Wednesday morning showed private payrolls increased by 184,000 workers in the month. That’s higher than the 155,000 estimate of analysts polled by Dow Jones and marked the fastest pace of growth since July 2023.
— Alex Harring, Jeff Cox
2 Hours Ago
S&P 500 could fall between 5% and 10%, market technician says
The S&P 500 could be in for a pullback between 5% and 10%, according to Piper Sandler’s chief market technician.
Craig Johnson told clients in a Wednesday note that the benchmark index could see a high-level trading range after the strong first quarter, in which the S&P 500 gained more than 10%. He also advised investors to watch individual stocks testing key levels.
“Be vigilant of equities and indices that are the…
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