LIVE MARKETS-Dow leads Wall Street gains with tech weighing on Nasdaq

Reuters · 6d ago
LIVE MARKETS-Dow leads Wall Street gains with tech weighing on Nasdaq

Main U.S. indexes green; Dow out front, up ~0.9%

Energy leads S&P 500 sector gainers; Tech weakest group

Euro STOXX 600 index up ~0.5%

Dollar, gold lower; crude up; bitcoin up ~2.5%

U.S. 10-Year Treasury yield edges down to ~3.77%

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DOW LEADS WALL STREET GAINS WITH TECH WEIGHING ON NASDAQ

On Wall Street the Dow .DJI is rising solidly on Friday with the S&P 500 .SPX and the Nasdaq .IXIC trailing behind after the latest crop of economic data indicated that inflation was continuing to dampen.

A Commerce Department report showed the personal consumption expenditure (PCE) index, the Fed's preferred inflation measure, rose 2.2% in August on an annual basis, compared with estimates of 2.3%, as per economists polled by Reuters. On a monthly basis, it rose 0.1%.

The September final read on U Mich sentiment came in at 70.1 vs a 69.3 estimate.

Among the S&P's 11 major indexes only heavyweight technology .SPLRCT is in the red with chip stocks .SOX putting some pressure on after a massive rally on Thursday.

The biggest gainers are energy .SPNY and utilities .SPLRCU.

On the retail side, Costco Wholesale COST.O is dropping more than 1% after posting downbeat fourth-quarter revenue.

Here is your morning snapshot from 1027 EDT/1427 GMT



(Sinéad Carew)

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