Sunday, September 24

Live updates on the stock market today.

The Dow Jones Industrial Average experienced a decline of 0.54%, losing 191.13 points to reach 35,123.36. The S&P 500 lost 0.7% to 4,467.71 while the Nasdaq Composite decreased by 1.17% and reached 13,722.02.

The moves come on the heels of a long-awaited U.S. inflation report, which is expected to be released on Thursday with the July consumer price index reading.

Over the past few months, investors have been monitoring the index to gain insight into how the Federal Reserve might adjust interest rates moving forward. According to Dow Jones’ polled economists, the inflation gauge showed a 3.3% rise in July.

The Fed is at a crossroads and the focus of markets, as noted by Bill Merz, head of capital markets research at U.S. Bank Wealth Management, is on whether inflation will slow to stop raising rates.

Following a losing day on Wall Street, the downgrade by Moody’s downgrading several regional banks dampened investor sentiment. Some market participants were concerned that this signal could cause further problems for markets, while others expected reversal due to the extraordinary rally in equities this year.

Since August, the Nasdaq Composite has experienced a 4.4% decline, while the S&P 500 and Dow have fallen by 2.6% and 1.2%, respectively. As re-signed on Wednesday, it has entered negative territory on the quarter. However, all three indexes are significantly higher than their starting positions in 2023.

“Markets had consumed a lot, according to Phillip Colmar, the managing partner at MRB Partners. It’s essentially settling into opportune time.”

Disney’s Walt Disney and Wynn Resorts are both set to report quarterly results after the close. As of Wednesday, more than 90% of S&P 500 stocks have reported earnings, and approximately 40% of those who have posted results have exceeded Wall Street’S projections, according to FactSet.

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