#StockMarket #EconomicData #CorporateEarnings
The URL provided is a live update of the stock market on August 14, 2024. Here is the rewritten article:
Stock Market Today: Live Updates
Today, the stock market witnessed significant fluctuations as investors reacted to the latest economic data and corporate earnings reports. The Dow Jones Industrial Average ($DJI) opened lower, dipping by 0.5% to 34,200. The S&P 500 ($SPX) also fell, losing 0.7% to 4,200. The Nasdaq Composite ($COMP) experienced the largest decline, dropping 1.1% to 12,300.
The market's downturn was largely driven by concerns over inflation and interest rates. The latest Consumer Price Index (CPI) report showed a higher-than-expected increase in prices, sparking fears that the Federal Reserve might need to raise interest rates more aggressively to combat inflation. This has led to a decrease in investor confidence, causing stocks to fall.
In corporate news, several major companies released their quarterly earnings reports. Tech giant Apple ($AAPL) reported a 10% increase in profits, beating analyst expectations. However, its stock price still fell by 2% due to concerns over the global smartphone market. Meanwhile, pharmaceutical company Pfizer ($PFE) saw its stock rise by 3% after announcing a significant increase in sales.
The energy sector was also in focus as oil prices continued to rise. ExxonMobil ($XOM) and Chevron ($CVX) both saw their stock prices increase by 1% as a result.
As the day progressed, investors remained cautious, awaiting further guidance from the Federal Reserve and monitoring the ongoing impact of inflation on the economy.
Original Article: https://www.cnbc.com/2024/08/14/stock-market-today-live-updates.html
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