SPY•Wall Street’s main indexes edged lower after hotter-than-expected inflation boosted bets on an interest rate hike this month. Skydance fell 27.2%, while Bending Spoons shares surged after an additional $330 million Berkshire Hathaway investment and Albertsons fell after a Bank of America rating cut.
At 11:30 EDT, the Dow was down 0.08%, the S&P 500 was down 0.81% and the Nasdaq Composite was down 1.13%. Investors parsed big bank earnings after an inflation report came in hotter than expected.
Skydance shares fell 27.2% as its warrants traded separately and the cost to insure its debt hit a record high. Bending Spoons shares surged after an additional $330 million Berkshire Hathaway investment. Albertsons shares fell after Bank of America cut its rating to underperform and lowered its price target.
