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Inflation Concerns Cool Summer Stock Market Rally

The S&P 500 closed slightly lower on Friday, marking its second consecutive week of losses. One of the factors contributing to the cooling of the summer stock market rally is mixed signals on inflation. The producer-price index showed a slight increase in supplier prices, following a more positive reading on consumer prices. However, a key survey later in the morning revealed that consumer expectations for inflation had eased.

Investors are closely monitoring any signs of inflation picking up, as this could potentially lead the Federal Reserve to raise interest rates further.

At around 4 p.m. ET:

– Stocks closed mostly down, with the Nasdaq Composite also experiencing its second straight week of declines. However, the Dow Industrials managed to gain for the week.

– Treasury yields rose, with the yield on the benchmark 10-year note climbing to 4.166% from 4.081% on Thursday.

– UBS shares saw an increase after the Swiss bank announced that it no longer required a $10 billion backstop and other government assistance for its Credit Suisse takeover.

– Casino operators, such as Wynn Resorts and Caesars, experienced declines in their stock performance.

– Surprisingly strong economic data had a rattling effect on U.K. assets. The FTSE 100 slid while the pound rallied, following data that showed growth in the U.K. economy. This resilience could potentially lead the Bank of England to continue raising interest rates.

– Chinese stocks ended lower, with the Shanghai Composite Index experiencing a 2% loss. This was attributed to data indicating a significant drop in new loans issued by Chinese banks, suggesting weak credit demand.

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What factors contributed to the declines in stock performance for casino operators and the Chinese stock market

The S&P 500 closed slightly lower on Friday, marking its second consecutive week of losses. The summer stock market rally has cooled off due to mixed signals on inflation. The producer-price index showed a slight increase in supplier prices, while consumer prices had a more positive reading. However, a key survey revealed that consumer expectations for inflation had eased.

Investors are closely watching for signs of inflation picking up, as this could prompt the Federal Reserve to raise interest rates further.

Here’s a roundup of market news at 4 p.m. ET:

– Stocks closed mostly down, with the Nasdaq Composite also experiencing its second straight week of declines. However, the Dow Industrials managed to gain for the week.

– Treasury yields rose, with the yield on the benchmark 10-year note climbing to 4.166% from 4.081% on Thursday.

– UBS shares saw an increase after the Swiss bank announced that it no longer needed a $10 billion backstop and government assistance for its Credit Suisse takeover.

– Casino operators, such as Wynn Resorts and Caesars, saw declines in their stock performance.

– Surprisingly strong economic data had a rattling effect on U.K. assets. The FTSE 100 slid while the pound rallied, following data that showed growth in the U.K. economy. This resilience could potentially lead the Bank of England to continue raising interest rates.

– Chinese stocks ended lower, with the Shanghai Composite Index experiencing a 2% loss. This was attributed to data indicating a significant drop in new loans issued by Chinese banks, suggesting weak credit demand.

Stay informed about the markets by subscribing to our free morning and evening newsletters, delivered every weekday.

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