Wall Street closes higher on tech buying as investors wait on inflation data

Wall Street closes higher on tech buying as investors wait on inflation data

By David French

Tue October 8, 2024 6:49 PM

It was another straight shot up on all three indexes all day long, all taking a momentary dip right around 1 pm, but then rebounding to recover some of yesterday’s losses on the Dow, and all the losses on the S&P and Nasdaq. Lower Treasury yields spurred more tech buying and the tech giants, which benefit from lower debt costs, had a comeback. But investors are still awaiting Thursday’s CPI for more pulse-taking on Fed rate decisions. Recent data has almost eliminated bets for another ½ point cut with the odds of a ¼ cut today at 9 to 1.  Volume remains a little below the 12.1 billion average at 11.57 billion. 

DJ: 41,954.24  -398.51       NAS: 17,923.90  -213.94      S&P: 5,695.94  -55.13        10/7

DJ: 42,080.37  +126.13      NAS: 18,182.92  +259.01     S&P: 5,751.13  +55.19       10/8

Tue 10-8-24 6:49 pm Wall Street closes higher on tech buying as investors wait on inflation data | Reuters