Stock Market Update: S&P 500, Nasdaq Dip as Inflation Progress Falters<\/p>\n
US stock markets faced a setback on Wednesday, with key indices retreating after fresh data suggested inflation remains stubbornly high, challenging the Federal Reserve’s efforts to hit its 2% target.<\/p>\n
The S&P 500 (^GSPC) dropped 0.4%, while the Dow Jones Industrial Average (^DJI) slid 0.3%. The Nasdaq Composite (^IXIC), led by losses in tech stocks, declined by 0.6%. This follows Tuesday’s record highs, dampening investor sentiment ahead of the Thanksgiving holiday, when markets will close Thursday and have shortened trading hours on Friday.<\/p>\n
Inflation Data Raises Concerns<\/p>\n
The Federal Reserve’s preferred inflation gauge, the Core Personal Consumption Expenditures (PCE) index, showed modest growth in October. Core PCE, which excludes volatile food and energy prices, rose 0.3% month-over-month, aligning with Wall Street expectations. Annually, core prices increased by 2.8%, slightly above September’s 2.7%.<\/p>\n
This flat progress in inflation control has raised questions about the Fed\u2019s next move. Current market forecasts, based on the CME FedWatch Tool, indicate a 34% probability that the Fed will hold interest rates steady at its upcoming meeting\u2014a notable increase from 24% a month earlier.<\/p>\n
Broader Economic Indicators<\/p>\n
Additional economic reports released Wednesday painted a mixed picture. The second estimate for third-quarter GDP remained unchanged, showing a 2.8% annualized growth rate. Meanwhile, the labor market showed resilience, with weekly jobless claims dropping to 213,000 from the prior week\u2019s 215,000\u2014indicating continued strength in employment.<\/p>\n
Corporate and Trade Developments<\/p>\n
In corporate news, Dell Technologies (DELL) shares plunged over 12% after quarterly revenue missed expectations, reflecting weak PC demand. Similarly, HP (HPQ) suffered an 11% loss post-earnings, compounding concerns in the tech hardware sector.<\/p>\n
On the trade front, President-elect Donald Trump appointed Jamieson Greer as the new US Trade Representative. Greer, a key figure in Trump’s first-term China tariff policies, has sparked speculation about the administration’s approach to future trade agreements and tariffs on top US trading partners.<\/p>\n
Outlook<\/p>\n
As markets enter a holiday-shortened week, investors are cautiously navigating a mix of economic signals and corporate challenges. Persistent inflation and trade policy uncertainties remain key themes that could shape market direction in the coming weeks.<\/p>\n
For updates on the stock market and economic trends, stay tuned to our blog.<\/p>\n
Source : Swifteradio.com<\/p>\n","protected":false},"excerpt":{"rendered":"
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