Amidst persistent inflation, economic data indicated that stocks were down on Thursday. The S&P 500 and Dow Jones Industrial Average both saw record lows.
As the Dow fell 57.88 points, or 0.14%, to end at 42,454.12, the broad market index shed 0.21% to close at 5,780.05. Closed at 18,282.05., the Nasdaq Composite fell 0.05%. Luke O’Neill, portfolio manager at CooksonPeirce, stated, “Clearly, the CPI report is driving most of today.”
“While not shocking in the slightest, certain underlying data is obviously a tad hotter than anyone would want. Small and mid-cap companies that are marginally more rate sensitive are being sold off on the margins.
Source (CNBC)
