Its shares retreated Wall Street on Friday (29.8.2025), as investors withdrew from the market ahead of the long weekend, after the new S&P 500 record and the fixed profits of Nvidia this week. New inflation data showed that price rise is still a risk to the new month.
Specifically, Wall Street’s S&P 500 closed the day with a 0.64% drop to 6,460.26, but scored the fourth consecutive month of profit. At the same time, Nasdaq Composite fell 1.15% and closed at 21,455.55, while Dow Jones Industrial Average lost 92.02 points, or 0.20%, and closed at 45,544.88.
The basic PCE index, a basic inflation indicator monitored by the US Federal Bank (FED) that excludes the cost of food and energy, increased by 2.9% in July, according to expectations, but noting acceleration compared to the previous month and reaching the highest level from February.
“The Fed has paved the way for interest rates, but the magnitude of this reduction will depend on whether the inability to market labor will continue to be a greater risk than increasing inflation,” said Ellen Zentner, head of Morgan Stanley Wealth Management, in a statement. “Today’s PCE price index will maintain interest in the labor market. At present, chances are still a decrease in September. “
Since the shares were already under pressure before the announcement of the PCE index, Baird’s Ross Mayfield believes that the fall of the day has more to do with the recent market performance. The shares come from a profitable meeting, with the S&P 500 closing over 6,500 points for the first time on Thursday.
“The PCE data was good, but there is a slight profit over -indebtedness and perhaps a small profit liquidation after achieving a high history,” the company’s investment strategy said in an interview with CNBC.