U.S. Daily Market Review

By X-blogger - on February 27, 2024

The main U.S. stocks are without a clear market direction as the market rally took another breather.

The S&P-500 slipped 0.3%, while the Dow Jones Industrial Average dipped 140 points, or 0.3%. The Nasdaq Composite added 0.1%.

Macy’s stock prices jumped more than 5% after announcing it would close around 150 of its trouble store locations.

Home prices rallied for the 11th consecutive month in December, as housing inventory remained very low.Prices soared 5.5% on a national basis in December when compared with the previous year.

Food price inflation sunk in February to its weakest mark of the last two years.

Food prices in February surged 5% versus last year, but that marked a loss from January’s 6.1%, and the lowest level since May 2022, according to the British Retail Consortium (BRC).

Consumer confidence dropped in February as worries jumped over a potential labor market slowdown.

AutoZone declared earnings of $28.89 per share on revenue of $3.85 billion.Its share prices popped 3%.

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