Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

Wall Street ends up with growth stocks, but inflation fears linger

Stock Markets Jun 06, 2022 07:31PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: A screen displays trading information for ride-hailing giant Didi Global on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 3, 2021. REUTERS/Brendan McDermid 2/2
 
US500
-0.03%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
+0.45%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AAPL
-1.96%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AMZN
-0.76%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
IXIC
-0.52%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
TWTR
+0.00%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Caroline Valetkevitch

NEW YORK (Reuters) - U.S. stocks ended a choppy session slightly higher on Monday, helped by gains in Amazon.com and other mega-cap growth shares, while persistent worries over inflation and interest rates kept a lid on the market.

Shares of Amazon.com Inc (NASDAQ:AMZN) rose 2% and were the biggest positive for the S&P 500 and Nasdaq after the online retailer split its shares 20 for 1.

Apple Inc (NASDAQ:AAPL) shares climbed 0.5%. The tech giant at its annual software developer conference announced among other things that it would more deeply integrate its software into the core driving systems of cars.

Among sectors, consumer discretionary and communication services had the day's biggest gains.

But investors remain focused on inflation and rising interest rates. A U.S. consumer price index report on Friday is expected to show still-high inflation, and U.S. Treasury yields rose on Monday.

A solid jobs report on Friday lowered hopes of a pause in the Federal Reserve's aggressive policy-tightening plan to fight inflation.

"There's been a push-pull in the markets now for a while," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.

The jobs report was evidence that "the economy is still in OK shape," he said. But "with inflation running kind of high and commodity prices still rising and putting in new all-time highs, maybe that peak of inflation is still in that ethereal future."

Helping sentiment were easing regulatory crackdowns in China and signs in parts of China of a return to more normal activity after the country's biggest COVID-19 outbreak in two years.

The Dow Jones Industrial Average rose 16.08 points, or 0.05%, to 32,915.78, the S&P 500 gained 12.89 points, or 0.31%, to 4,121.43 and the Nasdaq Composite added 48.64 points, or 0.4%, to 12,061.37.

Twitter Inc (NYSE:TWTR) shares slipped 1.5% after billionaire Elon Musk said he might walk away from his buyout offer if the social media company fails to provide data on spam and fake accounts.

U.S.-listed shares of Chinese firms rallied after a report that Chinese regulators are concluding probes into ride-hailing giant Didi Global Inc and two other firms. The KraneShares CSI China Internet ETF jumped 4.7% and Didi Global gained 24.3%.

Advancing issues outnumbered declining ones on the NYSE by a 1.29-to-1 ratio; on Nasdaq, a 1.01-to-1 ratio favored decliners.

The S&P 500 posted 1 new 52-week high and 29 new lows; the Nasdaq Composite recorded 58 new highs and 129 new lows.

Volume on U.S. exchanges was 10.64 billion shares, compared with the 12.75 billion average for the full session over the last 20 trading days.

Wall Street ends up with growth stocks, but inflation fears linger
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (14)
Md Nasim
Md Nasim Jun 07, 2022 6:52AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
nasim
Jay Garrelts
Jay Garrelts Jun 07, 2022 2:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Well yeah we have inflation thanks to trump and Biden Dumb and dumber
Kerry Ditto
Kerry Ditto Jun 06, 2022 2:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It looks massive oil may flow to market from Iran. If so, oil price may plummet.
sa as
sa as Jun 06, 2022 2:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
are you kidding me?
Kerry Ditto
Kerry Ditto Jun 06, 2022 1:55PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Dow 35k by Friday? Putin probably knows.
Kerry Ditto
Kerry Ditto Jun 06, 2022 1:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
B stands for Bullish and Blessed.
Kerry Ditto
Kerry Ditto Jun 06, 2022 1:45PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Inflation IS transitory and a LAGGING indicator. Let bygones be bygones. BE BULLISH.
Ronald Warren
Ronald Warren Jun 06, 2022 12:48PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Looks like this week will be a melt-up. The DOW will probably be at 35,000 by Friday. The market will keep fluctuating all week and slaughtering every option in sight. It's going to take some time- 2 or 3 months for the market to tumble into oblivion. We're experiencing high inflation and rising rated but not suffering the pain yet. When the pain sets in markets will drop 50%. I'm calling 9/6/2022.
Ronald Warren
Ronald Warren Jun 06, 2022 12:48PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
sorry- 33,500
Stan Smith
Stan Smith Jun 06, 2022 12:36PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Rabo: Markets Refuse To See That The West Cannot Enjoy Its Flimsy Festering Fat Fiat Fiesta Forever :D
Chad Richer Than You
Chad Richer Than You Jun 06, 2022 12:19PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sell the Amazon dip you bought earlier today
Tom Scurlock
Tom Scurlock Jun 06, 2022 12:15PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This isn’t stock market…. It’s manipulation market.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email