Stock Market Today: Live Updates
Okay, here’s a summary of the CNBC article you provided, focusing on the key takeaways:
Key points:
Mixed Economic Data: The economic data released on Thursday was mixed, creating some confusion in the market.
CPI: The Consumer Price Index (CPI) rose 0.4% in August (higher than expected monthly) but was in line with expectations at 2.9% annually. Core CPI (excluding food & energy) also met forecasts, rising 0.3% monthly and 3.1% annually.
PPI: The Producer Price Index (PPI) unexpectedly fell 0.1% for the month, but rose 2.6% year-over-year.
Jobless Claims: Weekly jobless claims increased to 263,000,exceeding expectations and rising from the previous week.
Market Reaction & Expectations: The mixed data is leading to speculation about potential interest rate cuts.
Jay Woods (Freedom Capital Markets) believes a quarter-point cut is likely, and a half-point cut remains possible, especially given the jobless claims data.
The 10-year Treasury yield is being closely watched; a drop below 3% could trigger a market rally.
Stock Market Performance:
The S&P 500 had finished at all-time highs the previous day, boosted by Oracle’s strong performance.
on Thursday:
Nasdaq Composite: Finished slightly above flat.
Dow: Lost over 200 points.* Company Mentions: Oracle is specifically highlighted as having a “monster rally” contributing to the previous day’s market gains.
In essence, the article describes a situation where economic indicators are sending conflicting signals, leading to uncertainty about the Federal Reserve’s next move and causing some volatility in the stock market.