Wall Street ends mixed while
inflation data keeps Fed rate-cut hopes intact
By Sinéad Carew and Purvi Agarwal
Wed November 13, 2024 4:54 PM
CPI came in exactly as expected and, though it rose 0.2% for the
fourth straight month (2.6% annual), it did not rise more than forecast which
was good news for the markets in terms of rate cuts, now putting the odds for ¼
point December cut at 82%, up from 59% just two days ago. But the three indexes
went through a wild rollercoaster ride today with the Dow swinging back and
forth in a 300-point range, opening in the red but reaching a height of a +230
by 1 pm before declining to very modest gains by close. The bottom line for the
day was “relief inflation didn’t come in ahead of expectations.” And for the sixth
day, volume came in considerably above the 13.46 billion average, today closing
with 16.49 billion shares traded.
DJ: 43,910.98 -382.15 NAS: 19,281.40
-17.36 S&P: 5,983.99
-17.36 11/12
DJ: 43,958.19 +47.21 NAS: 19,230.74 -50.56 S&P: 5,985.38 +1.39 11/13
Wed 11-13-24 4:54 pm Wall Street ends mixed while inflation data keeps Fed rate-cut hopes intact | Reuters