Wall Street is hovering around record highs at the start of a week featuring another full slate of corporate earnings and the government’s latest inflation reading.
The S&P 500 was down 0.4 per cent in afternoon trading. The benchmark index is within 1 per cent of its record set in July. The Dow Jones rose 46 points, or 0.1 per cent. The Australian sharemarket is set to advance, with futures at 4.53am AEST pointing to a rise of 17 points or 0.2 per cent at the open. BHP is among the companies reporting today. The ASXThe Nasdaq fell 0.8 per cent. It was weighed down by several technology companies that tend to tip the market because of their big values.
Bond yields held relatively steady. The yield on the 10-year Treasury rose to 3.81 per cent from 3.80 per cent late Friday. Shares in other chipmakers also fell. Broadcom was down 4 per cent, Advanced Micro Devices dropped 3.2 per cent and Lam Research slid 3.1 per cent.The key report for investors this week will come on Friday, when the government serves up its latest data on inflation with the PCE, or personal consumption and expenditures report for July. It is the Federal Reserve’s preferred measure of inflation.
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