NEW YORK, June 28 (Reuters) – The New York Stock Exchange ended lower on Friday, after initial gains, following the publication of PCE inflation figures and in a tense political context following the presidential debate, while Nike tumbled in values.
The Dow Jones index fell 0.11%, or 41.12 points, to 39,122.94 points.
The broader Standard & Poor’s 500 lost 22.57 points, or 0.41 percent, to 5,460.30.
The Nasdaq Composite fell 126.08 points, or 0.71%, to 17,732.60 points.
The Department of Commerce published figures for PCE inflation in the United States which stabilized in May over one month and slowed to 2.6% over one year.
After the publication of this statistic, the probability of a rate cut by the Federal Reserve (Fed) in September increased to 68% from 61% previously.
The televised debate between Joe Biden and his rival Donald Trump also weighed on exchanges, according to Thomas Martin, portfolio manager at Global Investment, citing the feverish performance of the tenant of the White House.
“People are trying to find out what will happen with the presidential election. This debate has contributed to increasing uncertainty, not to lowering it,” he underlines.
In terms of values, Nike plunged 19.98% after announcing that it anticipated a drop in its turnover for the 2025 financial year.
(Paris editorial)
