Wall St indexes fall ahead of inflation data
By Sinéad Carew and Purvi Agarwal
Tue December 10, 2024 4:05 PM
Tech started the day in the black and ended it in the red. The Dow started the day 3-digits in the red, briefly saw black for a couple hours mid-day, then went back into the red to close 3-digits down again. Like yesterday, everyone is hedging their bets against inflation reports coming Wednesday and Thursday. Like yesterday, the Chinese investigation of Nvidia is pulling down the tech sector. Like yesterday, industrials continue to experience correction after the recent records that were set.
The bets are that CPI and PPI will come with only a slight 0.1% increase. If that happens, there will be an “all clear” for a Fed rate cut, the odds now at 86%. Volume was very briefly above average yesterday but today has once again slipped, coming in below the 14.35 billion average, today at 13.35 billion, again likely a little hedging pending the CPI and PPI.
DJ: 44,401.93 -240.59 NAS: 19,736.69
-123.08 S&P: 6,052.85
-37.42 12/9
DJ: 44,247.83 -154.10 NAS: 19,687.24
-49.45 S&P: 6,034.91
-17.94 12/10
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