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US stocks fluctuate on inflation report


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Nigeria

United States stocks fluctuated, after a two-day advance in the Standard & Poor’s 500 Index, as the cost of living rose more than forecast in May and investors awaited the Federal Reserve’s monetary policy decision.

Bloomberg News reported that an index of home builders slid 0.4 per cent as housing starts dropped more than forecast last month. Medtronic Incorporated advanced two per cent as brokers including Morgan Stanley and Credit Suisse Group AG raised their ratings on the company.

The S&P 500 added less than 0.1 per cent to 1,938.04 in New York. The Dow Jones Industrial Average lost 4.69 points, or less than 0.1 per cent, to 16,776.32. The Russell 2000 Index of smaller companies rose 0.8 per cent. Trading in S&P 500 companies was in line with the 30-day average for this time of day.

“We’re going to be bouncing around today,” Paul Zemsky, the New York-based head of multi-asset strategies at Voya Investment Management LLC, said in a phone interview. The firm oversees $220bn

Article Credit: Punch News

Updated 5 Years ago
 

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