The U.S. June PCE price index, the Fed's preferred inflation gauge, elevated in line with expectations. Paired with investors digesting the Fed's decision not to cut interest rates for now, U.S. bourse opened higher on Thursday but closed lower.

The S&P 500 and the Nasdaq both hit record highs at the opening but closed down, with the S&P 500 down 23 points or 0.4% at 6,339, marking its third consecutive day of decline, and the Nasdaq down 7 points to 21,122. The DJIA displayed the steepest drop, ending down 330 points or 0.7% at 44,130.

Related NewsPersonal Spending MoM for Jun in United States is 0.3%, higher than the previous value of 0.0%. The forecast was 0.4%.
Microsoft (MSFT.US)      beat earnings expectations in its 4FQ, swelling more than 8% at one point, but the gain narrowed to 4% by the close, failing to surpass the US$4 trillion market cap. Meta (META.US)      topped earnings expectations and provided a strong earnings forecast, with its stock price soaring 11.3%. After the market closed, Apple (AAPL.US)      and Amazon (AMZN.US)      announced their quarterly results, with Apple falling 0.7% and Amazon rising 1.7%.

There was immense selling pressure on stocks that had made their results announcement. Arm (ARM.US)      provided a lackluster earnings forecast for 2FQ, with its stock price plunging 13.4%. Qualcomm (QCOM.US)      excelled profit expectations in the last fiscal quarter, but its stock price fell off 7.7%.
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