Stocks showed minimal movement on Thursday as investors analysed fresh consumer pricing data that shows persistent inflation.
The Dow Jones Industrial Average fell by around 49 points, or nearly 0.1%, while the S&P 500 fell by 1.4%. The four-day winning streak for both indices is about to come to an end. About 0.2% was added to the Nasdaq Composite.
The corresponding Dow Jones predictions were 0.3% and 3.6%. Excluding food and energy prices, the core inflation rate increased by 0.3% on a monthly basis and 4.1% annually, which was in line with economists’ predictions. The information follows a stronger-than-anticipated September producer pricing index.