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
No comments:
Post a Comment