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Markets Pare Intraday Losses, Still Finish Marginally Lower

U.S. indices traded lower Thursday as stocks experienced continued volatility amid concerns over rising interest rates and inflation.

U.S. inflation data came in higher-than-expected Wednesday. The headline CPI rose 8.3% in April, down slightly from 8.5% in March but above economist estimates of 8.1%. Prior to 2022, the CPI hadn’t risen 8.3% in any month since 1982.

  • The Nasdaq composite finished lower by 0.18% to 11,945; The Invesco QQQ Trust Series 1 QQQ lost 0.26% to $291.07
  • The S&P 500 traded lower by 0.12% to 3,930; The SPDR S&P 500 ETF Trust SPY lost 0.08% to $392.43
  • The Dow Jones composite finished lower by 0.25% to 10,906; The SPDR Dow Jones Industrial Average ETF Trust DIA finished lower by 0.26% at $317.64

Here are the day’s winners and losers from the Nasdaq-100, according to data from Benzinga Pro.

Splunk Inc SPLK, Seagen Inc SEGN and Mercadolibre Inc MELI were among the top gainers.

Nvidia Corporation NVDA, Apple Inc AAPL and Exelon Corporation EXC were among the top losers.

Elsewhere On The Street

Tether’s value dropped by about 5% on Thursday, as shown by market data, which follows the collapse of the TerraUSD stablecoin so closely that it is most probably a consequence of fears it may face a similar fate… Read More

The company delivered 1,227 vehicles in the first quarter and reported more than 90,000 net pre-orders of its Rivian R1 electric pickup truck… Read More

More homebuyers were taking out mortgages despite climbing rates while the tight housing inventory is showing signs of improving. Nonetheless, many homebuyers are not optimistic about the housing market’s near future… Read More

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