More than two thirds of the S&P 500\u2019s members are falling today, but Microsoft and Meta Platforms are keeping the index afloat.<\/p>\n
The market benchmark was down 0.1%, moving in and out of negative territory. The Nasdaq Composite was up 0.1% after briefly turning negative. The Dow was down 161 points, or 0.4%.<\/p>\n
Microsoft shares were still up 4%, while Meta surged 12%. Results from both firms had the S&P and Nasdaq on track for record highs before some profit taking and worries about the economy overpowered the boost from the tech titans\u2019 results. Apple and Amazon.com<\/a> will also need to keep the ball rolling when they report right after the close.<\/p>\n The rest of the market was struggling after the Federal Reserve\u2019s preferred inflation gauge\u2014the core personal consumption expenditures price index\u2014rose at a 2.8% annual rate. The elevated inflation reading lowered odds of a September rate cut.<\/p>\n The Invesco S&P 500 Equal Weight ETF, a proxy for breadth because it counts every S&P 500 stock the same, was down 0.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"More than two thirds of the S&P 500\u2019s members are falling today, but Microsoft and Meta Platforms are…\n","protected":false},"author":2,"featured_media":1786,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[28,112],"class_list":{"0":"post-52885","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/52885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=52885"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/52885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/1786"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=52885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=52885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=52885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}