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Stock market today: Dow hits fresh record, stocks close out strong week as inflation cools

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Stock market today: Dow hits fresh record, stocks close out strong week as inflation cools

Stocks traded mixed on Friday but closed the week on a high as investors embraced an inflation report seen as crucial to the Federal Reserve’s next decision on interest rate cuts.

The Dow Jones Industrial Average (^DJI) gained 0.3% and finished with a fresh record. The S&P 500 (^GSPC) lost 0.1%, but is coming off a record-high close from the prior session. Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) sank about 0.4%.

Despite the mixed trading on Friday, the stock gauges all recorded wins for the week after confidence in the economy returned to the market. The Dow and the S&P added about 0.7%, while the Nasdaq rose 1%.

A solid GDP reading, combined with continued cooling in inflation, has cemented growing conviction that the Fed can nail a “soft landing” as it embarks on a rate-cutting campaign.

The August reading of the Personal Consumption Expenditures (PCE) index, the inflation metric favored by the Fed, showed continued cooling in price pressures. The “core” PCE index, which is most closely watched by policymakers, rose 0.1% month over month, lower than Wall Street forecasts.

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The PCE reading appeared to goose up bets on another jumbo-sized rate cut from the Fed next month. More than half of traders — around 52% — now expect a 50 basis point cut.

Read more: What the Fed rate cut means for bank accounts, CDs, loans, and credit cards

Elsewhere, China added to its stream of stimulus measures, boosting markets once again. Mainland stocks scored their biggest weekly win since 2008, and luxury stocks are set for their best week in years as hopes for Chinese demand rise. Meanwhile, shares of Alibaba (BABA, 9988.HK), JD.com (JD, 9618.HK), and Meituan (3690.HK, MPNGY) surged amid the buying spree.

Live13 updates

  • Dow closes with new record

    Mixed trading on Friday still came with weekly wins as all three major gauges were in the green for the week. Investors appeared to welcome the latest inflation report that showed price pressures continuing to sink towards the Federal Reserve’s 2% target.

    The Dow Jones Industrial Average (^DJI) gained 0.3% or more than 100 points to clinch a record close. The S&P 500 (^GSPC) lost 0.1%, but is only coming down from a fresh record of its own. The tech-heavy Nasdaq Composite (^IXIC) sank about 0.4%, but led the weekly wins overall, gaining 1%, compared to the S&P and the Dow’s 0.6%.

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  • Chip stocks close lower despite earlier gains

    US chip stocks fell Friday after a week of ups and downs. The PHLX Semiconductor Index (^SOX) dropped nearly 1.8%, but remains up 4.3% from last week.

    Micron (MU) fell down around 2.2% after skyrocketing Wednesday on its raised outlook for the upcoming quarter, fueled by AI demand. Micron was the first chipmaker to report financial results this earnings season, and its positive report raised fellow chip stocks such as Advanced Micro Devices (AMD).

    Some negative news for Nvidia (NVDA) came when AI server maker Super Micro Computer (SMCI), one of Nvidia’s biggest customers, saw shares plummet Thursday after reports of a DOJ probe into alleged accounting violations. Bloomberg also reported Friday that the Chinese government is pressuring companies to buy AI chips within its borders rather than from Nvidia. Nvidia fell 2.2%, though analysts said there was no singular reason for the stock’s drop.

    Daniel Newman, CEO of the Futurum Group, noted that semiconductors are a volatile industry. Nvidia stock has also been more volatile since its 10-for-1 stock split in June, Newman noted.

    Bob O’Donnell, founder of TECHnalysis Research, said Nvidia and other chip companies still display strong fundamentals and will likely continue to perform at high levels. Newman noted that there is “strong optimism right now from the top leaders across the industry.”

  • A look at the week ahead

    As a momentous September gives way to October, new jobs numbers will play a huge role in setting expectations for the days ahead.

    The September jobs report, which is scheduled to arrive on Friday, will offer the latest snapshot of the labor market. Should unemployment come in line with expectations, that will likely paint the Fed in a favorable light, as central bankers decided to cut interest rates by 50 basis points. Their efforts to ease back a restrictive monetary policy were designed in part to protect a labor market that has cooled somewhat. If, however, jobs numbers come in worse than expected, the data will offer fuel to critics who have argued that the Fed acted too slowly in cutting rates.

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    Fed Chair Jerome Powell is set to offer remarks ahead of the jobs report, on Monday, as investors look for signals on the central bank’s next move

    On the corporate front, major names scheduled to report include Nike (NKE), Carnival (CCL) and Constellation Brands (STZ).

    Yahoo Finance’s Brent Sanchez has a graphical breakdown of what to watch next week:

  • Zuckerberg faces deposition in AI copyright lawsuit from Sarah Silverman and other authors

    One of the most important debates sparked over the sudden rise of generative AI tools is whether the process of training large language models using existing artistic works is a new form of copyright infringement.

    An array of authors, media outlets and other creative professionals have sued to stop AI companies from using their content on the internet, arguing that their works are being used without compensation in order to advance a new technology and market opportunities.

    Meta CEO Mark Zuckerberg will soon play a direct role in one of the most important lawsuits tackling this subject. Earlier this week a US District Court judge overseeing a suit brought by authors including Sarah Silverman and Ta-Nehisi Coates rejected Meta’s bid to prevent the deposition of Zuckerberg, the Associated Press reported Friday.

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    Meta had tried to block Zuckerberg’s deposition by arguing that he does not have unique knowledge of the company’s AI operations and other Meta employees could provide the same information. Zuckerberg’s participation will likely draw even more attention to the legal matter, similar to his high-profile appearances on Capitol Hill during Congressional hearings on the role of social media in society.

  • New PCE reading supports case for smaller Fed rate cut in November

    Change in core PCE since 2018Change in core PCE since 2018

    Change in core PCE since 2018

    A fresh reading on inflation Friday keeps the Federal Reserve on track to continue cutting interest rates this fall, likely in 25 basis point increments, reports Yahoo Finance’s Jennifer Schonberger.

    The result means that a bigger 50 basis point cut may be hard to justify at the Fed’s next meeting in November, according to some Fed watchers.

    The fact that core inflation year-over-year is holding the level of the last two months, and not dropping, lines up more with a scenario for a smaller cut — lest the job market substantially weaken between now and November.

    “The core year-over-year at 2.7% suggests that another round of 50 basis points needs to come under careful scrutiny unless the labor market suggests weakness,” said Quincy Krosby, chief global strategist for LPL Financial.

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    The consensus among Fed officials outlined last week is for two more 25 basis point rate cuts in 2024.

    Read more here

  • Proposed Biden Chinese car tech ban could cut US auto sales

    Escalating economic tensions between the US and China could have further ramifications for the domestic auto industry.

    On Friday the Commerce Department said a new proposal from the Biden administration to ban connected vehicles from China and key Chinese software in American cars could eat into US auto sales by more than 250,000 vehicles per year, as well as put pressure on prices to rise, Reuters reported.

    US automakers and other companies selling to American consumers others “may be less competitive in the global market because of the relatively higher prices of their vehicles,” the department said.

    As many as 25,841 fewer vehicles would be sold annually if the rule takes effect, the Commerce Department said, adding that $1.5 billion to $2.3 billion in vehicle inputs from Chinese or Russian companies would also be impacted by the proposal.

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    The proposal would also require that American automakers eventually remove certain Chinese software and hardware from vehicles in the US.

  • Dow rises 250 points in afternoon trading

    Stocks traded mixed on Friday after investors were greeted with a fresh inflation report that showed prices continue to cool. In another economics update, consumer sentiment slightly beat expectations in September, with a reading of 70.1 surpassing the 69.4 that economists had projected.

    The S&P 500 (^GSPC) ticked just above the flatline after eking out a third record-high close this week. The Dow Jones Industrial Average (^DJI) gained 0.7%, or more than 250 points while the tech-heavy Nasdaq Composite (^IXIC) sank about 0.3%.

  • Stocks trending on Friday

    Here are some of the stocks leading Yahoo Finance’s trending tickers page during morning trading on Friday:

    Costco (COST): Shares of the warehouse retailer sank more than 1% Friday morning after the company posted a mixed fourth-quarter earnings report. Revenue came in at $79.70 billion, falling slightly below the expected $79.96 billion. Meanwhile, US comparable sales, ex-gasoline and currency impacts, were better than analysts were expecting.

    Cassava Sciences (SAVA): Shares of the biopharmaceutical company fell more than 10% after reaching a settlement with the US Securities and Exchange Commission over allegations that it advanced misleading claims about an Alzheimer’s clinical trial. The settlement amounts to over over $40 million

    Bristol Myers Squibb (BMY): The pharmaceutical company rose 3% following news that the FDA approved its schizophrenia drug, making it the first new drug-related approach for patients of the disease in 30 years.

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    Acadia (ACHC): Shares of the behavioral health facilities chain fell roughly 18% Friday after settling with the US Justice Department to resolve allegations it knowingly billed patients for medically unnecessary inpatient behavioral health services. The agreed to pay nearly $20 million.

     

  • Market bets rise for another jumbo rate cut

    The latest encouraging reading of the Fed’s preferred inflation gauge has shifted market forecasts for the likelihood of another 50-basis-point interest-rate cut.

    On Friday, the Personal Consumption Expenditures (PCE) index showed that prices in August increased at a slower pace than expected on a monthly basis. That impacted the debate over the Fed’s next policy rate decision, as central bankers move forward on winding down their tightening cycle.

    After Friday’s inflation release, investors were pricing in a 54% chance of a 50-basis-point rate cut at the Fed’s November policy meeting. That compares with the 50% chance seen a week ago, per the CME FedWatch Tool.

    If inflation continues to show signs of easing, that will likely pressure Fed officials to accelerate their plans to bring interest rates down, since elevated rates threaten the labor market and may lead to an economic slowdown that officials have thus far avoided.

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  • Costco’s stock slips, but its gold bars are selling like hot cakes

    Costco (COST) is slinging a lot of gold bars as prices for the precious metal continue to surge, report Yahoo Finance’s Brooke DiPalma and Brian Sozzi.

    Sales of gold were up “double digits” in the most recent quarter, the wholesale giant’s CFO Gary Millerchip told analysts on an earnings call Thursday evening. Millerchip added that gold was a “meaningful tailwind” to e-commerce sales in the quarter.

    Costco began selling gold bars in the fall of 2023. Wells Fargo analysts have estimated the company is moving bars worth $100 million to $200 million each month.

    On its website, Costco sells its 1 oz gold bar for $2,679.99. You have to be a member to buy the bullion. It’s also non-refundable, and there’s a limit of five total units per membership.

    Despite the hefty sales of gold, Costco’s bread and butter is still hawking products like, well, bread and butter to cost-conscious shoppers.

    Its fiscal fourth quarter, same-store sales growth came in at 6.9%, compared with estimates of 6.4% on Wall Street. E-commerce sales jumped 19.5%, slightly lower than the 19.63% growth rate analysts projected.

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    Read more here

  • Stocks open higher as inflation measure shows more cooling

    Stocks continued to build positive momentum on Friday morning as investors welcomed another update that showed price pressures easing. The encouraging inflation report spurred market expectations that the Federal Reserve may make another jumbo rate cut at its next policy meeting in November.

    The S&P 500 (^GSPC) rose 0.1% after eking out a third record-high close this week. The Dow Jones Industrial Average (^DJI) and the tech-heavy Nasdaq Composite (^IXIC) each gained around 0.2%.

  • Intel stock edges up on news of CHIPS Act funding talks, reports of Arm offer

    Intel (INTC) stock rose 1.8% in early trading Friday after the Financial Times reported that the chipmaker and the US government are on track to finalize $8.5 billion in CHIPS Act funding for the company by the end of the year.

    Separately, Bloomberg reported that Arm Holdings (ARM) expressed interest in buying Intel’s product business.

    The potential offer from Arm, the British chip designer with high-profile partners including Google (GOOG) and Apple (APPL), was rebuked by Intel, unnamed sources told Bloomberg.

    Intel has also reportedly been approached by Qualcomm (QCOM) and investment manager Apollo to buy the company in its entirety. Intel shares have climbed on the news over the past week, but are still down more than 50% from the beginning of the year. (Disclosure: Yahoo Finance is owned by Apollo Global Management.)

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    Rival Qualcomm floated a friendly takeover, according to the Wall Street Journal, but such a deal could face blowback from antitrust regulators. Analysts have also cast doubt on whether a Qualcomm takeover would make sense for Qualcomm or Intel financially.

  • Fed’s preferred inflation gauge shows prices increased less than Wall Street expected in August

    The latest reading of the Fed’s preferred inflation gauge showed prices increased at a slower pace than expected on a monthly basis in August.

    The “core” Personal Consumption Expenditures (PCE) index, which strips out the cost of food and energy, rose 0.1% from the prior month during August. The reading, which is closely watched by the Federal Reserve, came in below the 0.2% expected by Wall Street and the 0.2% seen in July.

    Over the prior year, prices rose 2.7% in August, matching Wall Street’s expectations and topping the 2.6% rate seen in July.

    Read more here.

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New Funding Models Needed As Global Health Faces Growing Financial Strain – Health Policy Watch

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5 hours ago

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March 28, 2026

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New Funding Models Needed As Global Health Faces Growing Financial Strain – Health Policy Watch
Christoph Benn (left) and Patrick Silborn

Global health is facing a funding crisis. Aid is shrinking, debt is rising, and the needs are only increasing. According to Christoph Benn of the Joep Lange Institute and Patrik Silborn of UNICEF Afghanistan, health systems will need to fundamentally rethink how they finance and sustain care.

On a recent episode of the Global Health Matters podcast, host Gary Aslanyan was joined by these two experts, who said “innovative finance” has become central to discussions on sustaining health systems.

Benn said that while the term is widely used, few agree on what it actually means. He described it as a “spectrum” of approaches, ranging from philanthropic grants and conditional funding to private-sector investment models that expect financial returns.

“It has frustrated us deeply that so many people are talking about innovative finance, but very few actually know what they’re talking about,” Benn said.

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Silborn emphasised that these mechanisms should not be treated as one-size-fits-all solutions. Instead, financing models must be designed around specific problems whether that means raising new funds, improving efficiency, or linking payments to measurable outcomes.

Drawing on his experience in Rwanda, Silborn described how a results-based funding model tied disbursements directly to performance, helping the country to maintain progress against major diseases despite reduced funding.

Both experts stressed that private-sector engagement requires a clear understanding of incentives.

“Private corporations are not charities,” Benn said. They can, however, contribute through marketing partnerships, technical expertise, or investment models that align financial returns with social outcomes.
Looking ahead, Benn pointed to targeted taxes and debt swaps as among the most scalable tools. Still, both warned that innovative finance is not a substitute for public responsibility.

“It only works when it is designed to solve real problems in specific contexts,” Benn said, underscoring that strong systems and governance remain essential to any lasting solution.

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Listen to the full episode >>

Read more about Global Health Matters podcasts on Health Policy Watch >>

Image Credits: Global Health Matters podcast.

Combat the infodemic in health information and support health policy reporting from the global South. Our growing network of journalists in Africa, Asia, Geneva and New York connect the dots between regional realities and the big global debates, with evidence-based, open access news and analysis. To make a personal or organisational contribution click here.

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Coalition urges lawmakers to advance South Carolina Financial Freedom Act

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17 hours ago

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March 27, 2026

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Coalition urges lawmakers to advance South Carolina Financial Freedom Act

COLUMBIA, S.C. (WCIV) — Dozens of local elected officials from across South Carolina are urging state lawmakers to pass legislation that would allow cities, counties and school districts to deposit taxpayer funds in the financial institution of their choice, including qualified credit unions.

The Palmetto Public Deposits Coalition, formed by more than 40 mayors, county council members and municipal leaders have signed a joint letter calling on the General Assembly to advance the South Carolina Financial Freedom Act, a bill that, if signed, would lift long-standing restrictions that require public entities to deposit funds exclusively in commercial banks, even though state law already allows credit unions to accept public deposits.

The coalition argues the current system limits competition and prevents local governments from seeking potentially better rates, lower fees and more responsive service.

READ MORE | Lowcountry residents feel squeeze as inflation rises 25% over five years

“Local governments should have the same financial freedom that families and businesses have — the ability to choose the financial institution that best meets their needs,” Rick Osborn, chairman of the Palmetto Public Deposits Coalition, explained. “This commonsense reform will introduce healthy competition, help stretch taxpayer dollars further, and strengthen partnerships with community-focused financial institutions that are deeply invested in South Carolina.”

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The efforts also won support from the South Carolina Association of Counties and the Municipal Association of South Carolina, whose boards have formally endorsed expanding deposit options. Their backing signals broad agreement among local government officials that the law should be modernized.

In their letter to lawmakers, the coalition argued that permitting credit unions to hold public deposits would restore financial choice and improve outcomes for residents.

“This legislation is about giving local leaders more tools to serve residents effectively and make responsible financial decisions,” said Goose Creek Mayor Greg Habib, one of the signatories.

READ MORE | Treasury to hold conferences on AI regulation reductions for banks

The Financial Freedom Act would allow, but not require, public entities to deposit funds in qualified credit unions. Coalition members said the bill is not designed to favor one type of institution over another, but to encourage competition in a market currently limited to commercial banks, many of which operate outside the state.

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The Palmetto Public Deposits Coalition said it will continue working with local leaders, state associations and lawmakers as the legislation moves through the current session.

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FTSE 100 LIVE: Stocks muted as Trump delays strikes on Iran power plants

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March 27, 2026

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FTSE 100 LIVE: Stocks muted as Trump delays strikes on Iran power plants

The FTSE 100 (^FTSE) was hovering around the flatline on Friday, while European stocks headed lower, as traders shrugged off Donald Trump’s latest pause on striking Iran’s energy infrastructure.

On Thursday night, the US president extended the deadline for Iran to open the strait of Hormuz by 10 days, meaning the new date would be 6 April. He claimed that talks were “going very well”. However, Iran denied it was “begging to make a deal”, despite Trump’s earlier claims.

It comes after Wall Street posted its biggest daily loss since the Iran war began on Thursday.

The Wall Street Journal also reported on Thursday that the US was considering sending as many as 10,000 additional troops to the Middle East.

Tony Sycamore, market analyst at IG, said Trump has extended the uncertainty gripping markets.

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“While the rhetoric around de-escalation and dialogue is certainly preferable to outright conflict, the market appears to be growing increasingly numb to President Trump’s verbal reassurances. By extending the deadline, it effectively kicks the can down the road, pushing back any concrete resolution regarding the reopening of the Strait of Hormuz. This, in turn, simply extends the uncertainty weighing on markets and the broader global economy.”

Elsewhere, UK retail sales dipped by 0.4% in February, following a rise of 2.0% in January, the Office for National Statistics revealed. In the December to February quarter, sales volumes were up 0.7% compared with the previous three months.

  • London’s benchmark index (^FTSE) was hovering around the flatline in early trade

  • Germany’s DAX (^GDAXI) dipped 0.5% and the CAC (^FCHI) in Paris headed 0.2% into the red

  • The pan-European STOXX 600 (^STOXX) was down 0.3%

  • Wall Street is set for a muted start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all lacklustre.

  • The pound was 0.1% down against the US dollar (GBPUSD=X) at 1.3311

Follow along for live updates throughout the day:

LIVE 4 updates

  • Consumer confidence in Britain slips in March

    GfK revealed on Friday that the UK confidence index fell two points to -21 in March – the weakest level since Donald Trump announced sweeping import tariffs in April last year. At the time, the index sank to -23.

    Neil Bellamy, the firm’s consumer insights director, said the survey showed people are concerned about the prospects for inflation and the economy.

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    The group said the sharp rise in energy prices caused by the effective closure of the strait of Hormuz and attacks on infrastructure in the region “has led to fears of higher inflation and weaker growth across oil-importing countries”.

    A majority of respondents said the economy had improved modestly over the last year, but was about to decline significantly. They said they were likely to save more and spend less on big ticket items over the next 12 months as a result.

  • UK retail sales dip amid wet weather and weaker supermarket trading

    UK retail sales decreased in February as supermarket sales slipped and demand for household goods was impacted by wet weather, according to official figures.

    The Office for National Statistics (ONS) said the total volume of retail sales, which measures the quantity bought, fell by 0.4% last month.

    It compared with a 2% rise in January, which was revised up from a previous estimate of 1.8%.

    The monthly decline in February was nevertheless shallower than expected, with analysts having predicted a drop of 0.7% for the month.

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    A fall in supermarket sales partly contributed to the fresh monthly decline, falling by 0.6%.

    All food stores, which includes convenience stores and specialist retailers, reported a 0.7% decline in sales volumes, marking the weakest level since August last year.

    Elsewhere, the data showed that household goods stores saw weaker demand, dropping by 2.6%, with retailers partly blaming “wet weather” for reduced demand.

    Met Office data indicated that the UK, had above average rainfall in February 2026, more so than in either January this year or the previous February.

    Non-store retailers also reported a slight dip over the month, with retailers suggesting that consumers brought forward spending to January to make the most of post-Christmas discounts.

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    Matt Dalton, consumer sector leader at Forvis Mazars, said:

  • Asia and US overnight

    Stocks in Asia were mixed overnight, stuck in a wait and see mode, with the Nikkei (^N225) fell 0.4% on the day in Japan, while the Hang Seng (^HSI) rose 0.4% in Hong Kong.

    The Shanghai Composite (000001.SS) was 0.6% up by the end of the session and in South Korea, the Kospi (^KS11) lost 0.4% on the day. Part of the Kospi’s weakness was also due to the ongoing sell-off in South Korean chipmaker stocks from Google’s memory chip announcement.

    Across the pond, the S&P 500 (^GSPC) slipped 1.7%, and the tech-heavy Nasdaq (^IXIC) was 2.4% down, both seeing their biggest declines since the start of the war and fell back to their lowest levels since September. The Dow Jones (^DJI) ended 1% lower, while the VIX index rose 2.11 points to 27.44pts, its highest since 6 March.

    Part of the Wall Street selloff was also driven by the ongoing rout from Tuesday’s announcement that Google had found a new algorithm that could reduce the memory chip amount needed in AI models.

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  • Coming up

    Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what’s moving markets and what’s happening across the global economy.

    To the day ahead we’ll get the US March Kansas City Fed services activity, UK February retail sales. Central bank events include the ECB consumer expectations survey, and the Fed’s Daly and Paulson will speak.

    Here’s a snapshot of what’s on the agenda today:

    • 7am: UK retail sales for February

    • 9am: ECB Consumer Inflation Expectations survey

    • 2pm: University of Michigan consumer confidence report

Download the Yahoo Finance app, available for Apple and Android.

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