Market Snapshot: Dow threatens to snap longest winning streak since August after inflation data

by | Oct 12, 2023 | Stock Market

U.S. stocks traded mixed on Thursday as traders parsed the latest inflation data, with the S&P 500 shifting between marginal gains and losses while rising technology stocks helped push the Nasdaq Composite into the green.How are stocks trading
The S&P 500
was down 2.5 points, or 0.1%, at 4,374.

The Dow Jones Industrial Average
shed 77 points, or 0.2%, at 33,726.

The Nasdaq Composite
gained 19 points, or 0.1%, to 13,677.

All three major indexes rose for a fourth straight session on Wednesday, the longest winning stretch for the Dow since late August, as stocks recovered from a September selloff that had been driven by a sharp rise in long-dated Treasury yields.

What’s driving markets The September CPI Index showed consumer prices rose by 0.4% last month, just above economists’ expectations for a 0.3% increase. Meanwhile, core CPI, which strips out volatile food and energy prices, came in at 0.3%, which was exactly in line with expectations. On a year-over-year basis, headline consumer …

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