off-the-wire

S&P 500, Nasdaq retreat from record rally after hot producer inflation data

Kitco Media
By Reuters
Published:
Updated:
Reuters
S&P 500, Nasdaq retreat from record rally after hot producer inflation data teaser image

Aug 14 (Reuters) - The S&P 500 and the Nasdaq retreated from record highs on Thursday, after a hotter-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the Federal Reserve this year.

The Dow Jones Industrial Average (.DJI), fell 31.4 points, or 0.07%, at the open to 44,890.84. The S&P 500 (.SPX), fell 13.1 points, or 0.20%, at the open to 6,453.46​, while the Nasdaq Composite (.IXIC), dropped 63.9 points, or 0.29%, to 21,649.211 at the opening bell.

Reporting by Sanchayaita Roy in Bengaluru; Editing by Devika Syamnath

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