New York, New York – After reaching all-time highs, US stocks saw a slight decline on Wednesday as investors awaited new data on the economy and potential rate cuts. The Dow Jones Industrial Average and the S&P 500 both slipped into negative territory, while the Nasdaq Composite remained in the green.

There are concerns about a possible recession in the US, especially after a weak reading on consumer confidence. The Federal Reserve’s decision to lower rates by 0.5% is under scrutiny, along with the potential for further cuts to stimulate the economy.

In terms of data, new home sales declined in August due to high mortgage rates and prices, although mortgage applications surged to the highest level in two years. Investors are now focused on the second quarter GDP print and the upcoming reading on the PCE index. Additionally, there is ongoing speculation about the size and pace of future rate cuts by the Fed.

On the market front, chip stocks like Nvidia, Micron, and Intel saw movement, with shares rising on positive news and reports. The effect of China’s economic stimulus package on global stocks and commodities is also being closely watched, especially after the CSI 300 index surged.

Overall, the stock market continues to fluctuate as investors weigh various economic indicators and central bank policies. The upcoming reports and announcements will provide further insight into the state of the economy and potential market trends.