Tech stocks drag on S&P 500, Nasdaq after inflation data

Nov 27 - The S&P 500 and the Nasdaq edged lower on Wednesday, weighed by a decline in technology stocks, while investors focused on the Federal Reserve's next move following an in-line inflation reading.

At 10:15 a.m. the Dow Jones Industrial Average , rose 105.77 points, or 0.23%, to 44,964.85, the S&P 500 , lost 12.62 points, or 0.21%, to 6,009.01 and the Nasdaq Composite , lost 127.19 points, or 0.66%, to 19,048.39. The Russell 2000 index , was up 0.7%, while the blue-chip Dow was buoyed by gains in healthcare and financial stocks.

"There are questions around the effects of Trump's stated tariff policy, which, if implemented could be pretty inflationary and so the Fed is going to have to balance itself between the economic data and the incoming administration's policy agenda." The benchmark S&P 500 is on track for its biggest one-month rise in a year and its sixth month of gains out of seven, as markets price in the probability of Trump's policies benefiting local businesses and the overall economy.

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