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US Stocks Waver as Investors Weigh Inflation, Labor Data Ahead of Fed Meeting

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Stock Market,Inflation,Interest Rates

The S&P 500 and Nasdaq Composite experienced mixed performance on Thursday as investors analyzed recent inflation and labor market data, which are influencing expectations for the Federal Reserve's next interest rate decision. The Dow Jones Industrial Average declined.

US stocks wavered on Thursday as investors digested fresh inflation and labor data testing high-running expectations for a quarter-point interest-rate cut next week. The S&P 500 fell 0.2% while the Nasdaq Composite gained 0.1%, coming off sharp closing gains fueled by a tech rally. The Dow Jones Industrial Average fell 0.5%. The market is regrouping after a seesaw Wednesday that saw revived enthusiasm for techs pull stocks out of a slide.

Read more: Fed predictions for 2024: What experts say about the possibility of a rate cut Before the bell, the August Producer Price Index provided indication that inflation pressures are cooling enough for the Fed to start easing rates. Wholesale prices rose at a rate of 0.2% month-over-month, slightly above what economists anticipated. On an annualized basis, PPI increased 1.7%, in line with expectations, while July's reading was revised lower.

 

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