Stock market today: Dow, S&P 500, Nasdaq slip after hotter-than-expected inflation print

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 21 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Nasdaq Composite News

Consumer Inflation

Investors are looking to the latest reading on CPI consumer inflation to set expectations for the path of interest rates.

US stocks drifted lower on Thursday after the latest consumer inflation print came in hotter than anticipated, setting up expectations for the path of interest rates. The Dow Jones Industrial Average slipped nearly 0.2%, while the S&P 500 shed roughly 0.3%, after both clinched fresh record highs. The tech-heavy Nasdaq Composite also edged down 0.5%. Consumer prices rose 0.2% last month, according to US government data, more than the 0.1% rise Wall Street was expecting.

But the jobs market provided a surprise of its own on Thursday, as initial unemployment claims rose to 258,000, much more than Wall Street anticipated and the highest print since June 2023. Read more: What the Fed rate cut means for bank accounts, CDs, loans, and credit cards Amid all the moving parts, traders now see a 15% chance that the Fed holds rates steady in November, per the CME FedWatch Tool.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Dow, S&P 500, Nasdaq futures stall with Fed and Google breakup in focusInvestors are locked in debate over a 'no landing' for the economy, with Fed minutes on deck.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow, S&P 500, Nasdaq surge as Fed fires up rallyWall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow, S&P 500 close at record highs, Nasdaq surges amid rate cut euphoriaWall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow, S&P 500, Nasdaq futures surge as Fed fires up rallyWall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow, S&P 500, Nasdaq slip as 10-year jumps past 4%Investors have overhauled their views on interest rate cuts after a blowout jobs report, ahead of a week of key inflation data and the start of earnings...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stock rally loses steam as S&P 500, Dow slip from recordsNow that the Fed has started cutting rates, the economy has taken to the fore for investors.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »