Inflation Surge Shakes Wall Street, Big Tech Mitigates Losses | JQJO

Wall Street experienced mixed results Thursday. Despite a disappointing inflation report showing a 3.3% rise in wholesale prices (exceeding economists' 2.5% prediction), the S&P 500 edged up to a new high, boosted by gains in Big Tech, particularly Amazon. The Dow and Nasdaq saw minor dips. The higher-than-expected inflation fueled uncertainty about a September interest rate cut by the Federal Reserve. Smaller companies were hit harder, with the Russell 2000 index falling 1.2%. While the unemployment report was positive, the strong job market could limit the Fed's inclination to cut rates.