Stocks today: US markets cool off record

• S&P 500 Futures: 5,796.00 ⬇️ down by 0.15%
• S&P 500: 5,738.17 ⬇️ down by 0.13%
• Nasdaq Composite: 18,119.59 ⬇️ down by 0.39%
• Dow Jones Industrial Average: 42,313.00 ⬆️ increasing by 0.33%
• STOXX Europe 600: 528.08 ⬆️ up by 0.47%
• Nikkei 225: 39,829.56 ⬆️ increasing by 2.32%
• ESS Composite index 3,087.53 ⬆️ increasing by 2.88%
• Bitcoin: $65,671.70 ⬆️ up 0.78%

US markets are cooling off from mid-week highs
The Federal Reserve’s preferred measure of US inflation fell more than expected to 2.2% on Friday, sending the Dow higher. Meanwhile, the Nasdaq and S&P 500 closed off their highs earlier in the week.

The Dow, Nasdaq and S&P 500 are rising
The Dow Jones Industrial Average closed down 0.33% on Friday on news from the Federal Reserve about inflation, as well as economic data showing strong sentiment among American consumers. But the Nasdaq fell 0.39 percent and the S&P 500 fell 0.13 percent after hitting all-time highs yesterday. Shares of Acadia Healthcare (ACHC) fell sharply on Friday after the Justice Department announced that the company will pay nearly $20 million to settle allegations of improper billing. The company also informed investors today that it has been subpoenaed by the United States Attorney’s Office for the Southern District of New York and received a grand jury subpoena from the U.S. District Court for the Western District of Missouri regarding upon its admission, length of stay and billing practices. Popular Nvidia shares fell 2.13% on Friday, while Rocket Lab USA Inc. climbed 12.54% on news that it had completed its second Pioneer spacecraft.

Europe: luxury brands go jet setting
Hermès, Burberry and Kering rose as China’s stimulus continued to fuel optimism in the ultra-luxury sector. LVMH patriarch Bernard Arnault was even catapulted back to his place as the world’s fourth-richest man this week on the outlook for bougie brands. LVMH shares also rose on Friday on news that it is investing in the brand behind a viral TikTok ski jacket that sells for $2,000. The STOXX Europe 600 ended Friday down 0.47%.

China: Second stimulus of the week boosts markets
China had its best week in 15 years on news of its economic stimulus, and despite trade problems causing early delays, the Shanghai Stock Exchange posted a 2.88% gain on Friday. Hong Kong’s Hang Seng Index rose 3.55%.

Japan: Exciting New Prime Minister Announcement
Prime Minister Ishiba sent the Nikkei 225 up 2.32%, helped by optimism in China and tame inflation numbers from Tokyo. The yen strengthened after the ruling party named the former defense minister, who has advocated raising interest rates, as the next prime minister.