The three US indices closed lower on Thursday, as gains in Microsoft and Meta failed to lift the broader market amid renewed trade uncertainties and economic concerns. The S&P 500 fell 0.5%, marking its third consecutive loss, while the Nasdaq 100 slipped 0.4%.
The Dow dropped 330 points, dragged down by losses in healthcare stocks. Market sentiment was dented by President Trump's decision to extend a 25% tariff on Mexican imports and looming deadlines for broader trade actions.
The Fed's preferred inflation gauge, the core PCE, rose 0.3% in June and 2.8% from a year earlier, adding to uncertainty over a potential rate cut in September.
On the earnings front, Meta surged 11.2% after beating estimates and issuing a strong sales outlook, while Microsoft gained 3.9%, pushing its market cap above $4 trillion on solid Azure growth. Investors now look ahead to earnings from Apple and Amazon, along with Friday's jobs report, for further insight into the economic outlook.
Source: Trading Economi
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