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Stock Market Today: Stocks Stumble, Key Inflation Data Looms

Stock Market Today: Stocks Stumble, Key Inflation Data Looms cover

U.S. stocks stumbled this Thursday as a disappointing sales forecast from chipmaker Micron overshadowed early optimism and investors awaited crucial inflation data.

The tech-heavy Nasdaq Composite managed a small gain, but the broader S&P 500 barely budged. This follows a pullback in chipmaker Micron's stock price after its sales forecast, though it met expectations, fell short of hopes for exceptional performance from AI-linked companies. This has cast a shadow over the recent market surge driven by bullishness around artificial intelligence.

Economic Data in Focus

Investors are now shifting focus to the upcoming release of the Personal Consumption Expenditures (PCE) price index on Friday. This data is a key indicator of inflation and will heavily influence the Federal Reserve's decision-making regarding interest rates.

Market Movers:

Key Events to Watch:

Overall, the stock market is in a wait-and-see mode, with investors cautious ahead of the crucial inflation data release. The performance of tech stocks, particularly those linked to AI, will also be closely watched in the coming days.

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