Particle.news

Stocks Slip as Record Run Stalls on Rate Jitters and Firming Data

Fresh economic readings are cooling expectations for rapid Federal Reserve rate cuts.

Overview

  • Major U.S. indexes fell for a third session but stayed near recent records as investors reassessed lofty valuations.
  • Powell warned that cutting too aggressively could rekindle inflation and said asset prices look fairly highly valued.
  • Official data showed Q2 GDP rebounded at a 3.8% annualized pace and weekly jobless claims dipped to 218,000.
  • Traders are focused on Friday’s PCE inflation report after futures pointed to a cautious open and Treasury yields hovered near 4.14%.
  • Lithium Americas nearly doubled on reports of a potential U.S. stake tied to a $2.26 billion loan, while Micron slipped despite strong results and Alibaba’s big AI spend lifted China tech shares.