Glitch at NYSE leads to some wild stock swings
An apparent glitch at the operator of the New York Stock Exchange triggered volatility trading halts in about a dozen companies, including Chipotle and Berkshire Hathaway.
Bloomberg
U.S. stocks closed slightly higher after the latest inflation data produced no surprises, but all three major indexes remained losers for the month.
The personal consumption expenditures prices paid index, which is the Federal Reserve’s preferred inflation measure, increased 0.3% for the month and 2.5% on an annual basis in January. So-called core PCE, which excludes volatile food and energy prices, also rose 0.3% for the month and 2.6% year over year. The numbers all came in as expected with Dow Jones consensus estimates.
This was a huge relief after January’s hotter-than-expected consumer price index. January’s CPI hit a seven-month high, fanning worries that prices were reversing course before reaching the Federal Reserve’s 2% goal.
The broad S&P 500 index closed up 1.59%, or 92.93 points, to 5,954.50; the blue-chip Dow gained 1.39%, or 601.41 points, to 43,840.91; and the tech-heavy Nasdaq added 1.63%, or 302.86 points, to 18,847.28. The benchmark 10-year Treasury yield slipped to 4.21%.
Still, all three major stock indexes recorded losses on a monthly basis as investors worry President Donald Trump’s tariff plans will spark trade wars that will hurt the economy and reignite inflation. China vowed retaliation after Trump slapped another 10% tariff on…
