US Market ends lower as inflation report looms

The US share market finished the session in negative territory on Wednesday, 28 February 2024, as investors turned cautious ahead of the release of closely watched readings on consumer price inflation on Thursday that will guide expectations for interest rate cuts.

At closing bell, the Dow Jones Industrial Average index declined 23.39 points, or 0.06%, to 38,949.74. The S&P500 index shed 8.42 points, or 0.17%, to 5,069.76. The tech-heavy Nasdaq Composite index was down 87.56 points, or 0.55%, to 15,947.74.

Total 7 of the 11 major S&P 500 sectors advanced, with real estate sector being top performer, rising 1.28%, while information technology sector was bottom performer, falling 0.55%.

 

ECONOMIC NEWS: The Commerce Department released report on Wednesday, showing real gross domestic product in the fourth quarter was downwardly revised to 3.2% from the previously reported 3.3%.

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