US Stocks end mixed

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The US stocks gave up gains to end mixed on Thursday, 11 August 2022, with the NASDAQ and the S&P500 indexes settling below the unchanged line, while the Dow managed to hold gains line. The mixed finish of the Wall Street came as the upward momentum inspired by tamer-than-expected inflation data fizzled out.

At the close of trade, the Dow Jones Industrial Average index inclined 27.16 points, or 0.08%, to 33,333.67. The S&P500 index was up down by 2.97 points, or 0.07%, to 4,207.27. The tech-heavy Nasdaq Composite Index decreased by 74.89 points, or 0.58%, to 12,779.91.

Six of the 11 S&P sectors ended lower, although none of the segments dropped more than 1%. Energy was the best performer, climbing 3.2% as crude oil advanced.

ECONOMIC NEWS: The Labor Department released a report showing its producer price index for final demand fell by 0.5% in July after surging by a revised 1.0% in June. The decrease marked the first drop in producer prices since April 2020. The report also showed the annual rate of producer price growth slowed to 9.8% in July from 11.3% in June. Producer prices, which exclude prices for food, energy and trade services, crept up by 0.2% in July after rising by 0.3% in June. The annual rate of core producer price growth also slowed to 5.8% in July from 6.4% in the previous month.

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