US Stocks Slip After 0.4% CPI Print as Fed 25-Basis-Point Hike Bets Firm
Updated
Updated · Yahoo Finance · Nov 10
US Stocks Slip After 0.4% CPI Print as Fed 25-Basis-Point Hike Bets Firm
3 articles · Updated · Yahoo Finance · Nov 10
Summary
A hotter October CPI reading knocked stocks lower Tuesday, with the Dow down 0.3%, the S&P 500 off 0.2% and the Nasdaq near flat after steeper opening losses.
The inflation report showed prices rose 0.4% from September, above the 0.3% forecast but below September's 0.6%, reinforcing expectations that the Fed will raise rates next month.
Traders now overwhelmingly price a 25-basis-point move, while some Fed watchers see a 50-basis-point hike after Governor Chris Waller said he would be open to a larger increase.
Nvidia shares edged lower again after Monday's 4% drop tied to a board investigation into CEO Jensen Huang, while oil also eased about 3% and Anthropic pressed ahead with its IPO roadshow.