Wall Street ends slightly lower after higher than expected inflation, jobless claims

Wall Street ends slightly lower after higher than expected inflation, jobless claims

By Sinéad Carew and Lisa Pauline Mattackal

Thu October 10, 2024 4:39 PM

It was quite a volatile day with the indexes swinging back and forth wildly, the Dow ranging 3 times between a minus 200 and near break-even. Today’s triggers were just slightly off CPI and unemployment claims reports and, though just slightly, the CPI showed inflation heating up a little while the unemployment claims pointed to a mildly weakening economy. There were also conflicting messages from two Fed governors today regarding future rate cuts, and this might have accounted for the sudden surge at 3 pm to break-even after big losses prior to that. Investors now look to Q3, which begins on Friday. Volume remains below the 12.06 billion 4-week average at 11.02 billion. 

DJ: 42,512.00  +431.63      NAS: 18,291.62  +108.70      S&P: 5,792.04  +40.91        10/9

DJ: 42,454.12  -57.88         NAS: 18,282.05  -9.57           S&P: 5,780.05  -11.99        10/10

Thu 10-10-24 4:39 pm Wall Street ends slightly lower after higher than expected inflation, jobless claims | Reuters