From NASDAQ:

Wall Street’s main indexes slipped as investors awaited an inflation reading that would impact interest rate cut predictions by the U.S. Federal Reserve. The PCE price index, due Thursday, is expected to show a rise in prices in January. Traders have delayed bets on rate cuts due to evidence of sticky inflation and a robust economy.

The U.S. economy grew in Q4 but lost momentum in the new year. Jobless claims and manufacturing data are awaited for further economic insights and clues on interest rates. Stock prices declined with tech stocks leading losses. Applied Materials slid following an SEC subpoena, while Bumble fell on weak revenue forecast.

Beyond Meat surged on positive revenue forecasts, while eBay added 7.6% on better than expected quarterly results. Novavax slumped after reporting a larger than expected Q4 loss. Cryptocurrency firms saw gains as bitcoin surpassed $60,000 for the fifth consecutive day. Crypto-linked assets soared, with the S&P and Nasdaq recording new highs and lows.



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