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Ahead of a Crucial U.S. Inflation Data, the S&P 500 is Little Changed

In a range, stocks Wednesday, as investors awaited the publication of fresh data on consumer inflation in the United States. From the 16-year highs set last week, Treasury rates have been declining ever since.

Around 11 points, or less than 0.1%, were lost, bringing the Dow Jones Industrial Average down. The Dow was up by more than 143 points when it reached its session high early on Wednesday. The Nasdaq Composite rose around 0.3% while the S&P 500 was essentially unchanged.

On Thursday, the consumer price index report for September is expected to be made public. According to economists surveyed by Dow Jones, growth will be 0.3% from the previous month and 3.6% from year-to-year. As they look for hints on potential Federal Reserve policy changes, investors will closely monitor the data. A day after traders combed through higher-than-anticipated wholesale inflation figures, the numbers will be released.

The producer price index increased by 0.5% in September, above the Dow Jones projection of a 0.3% increase. Nevertheless, the number showed a deceleration from the 0.7% rise in producer prices in the preceding month.

Source (CNBC)

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