On Wednesday’s trading day, markets fell slightly lower as investors continued to wait diligently for this week’s release of January’s price consumption expenditures index. As the Fed’s preferred gauge of inflation, markets are hoping the PCE reading will not come in as hot as the previous reading for CPI. Aside from inflation data, investors may continue treading water ahead of next week’s employment data, which is currently estimated to conclude February’s month with 3.7% unemployment. For the main indices, the S&P 500 dropped 0.17%, the NASDAQ Composite went down 0.55%, and the Dow Jones fell 0.06%.
Two companies to make news during midday trading were Beyond Meat and Bumble. Plent-based meat company Beyond Meat posted record gains of 30.72% after the firm reported revenues that beat analysts’ estimates by a large margin. In the red was the dating app Bumble, which fell 14.80% after it reported an unexpected loss of 19 cents per share.