S&P 500 edges higher, Nasdaq dips in choppy session as inflation data eyed
Tue January 14, 2025 7:08 PM
In a very choppy session swinging back and forth between black and red at least four times, investors sit on pins and needles waiting for this week’s inflation data, given a bit of a reprieve today with PPI coming in a little lower than expected but not low enough to move the needle on rate cut expectations which remain today at a 50% chance of a ¼ point rate cut no earlier than June, and nothing after that. With the much more closely watched CPI and Beige Book coming in starting tomorrow, reevaluations may be coming then. Or more likely, more of the same.
There remain abundant concerns about the potential impact of Trump’s policies which the Fed today characterized simply as an “active conversation.” But for today anyway, the rate environment has produced fence-sitting with tech investors being more hesitant and funds flowing still to industrials with the Dow rising over 220 points though even it too swung back and forth four times before closing. After a huge post-election rally, stocks have struggled since mid-December with the S&P falling in four of the last five weeks. Volume came in at 13.6 billion, below the 4-week average of 15.7 billion. It will likely go higher after CPI comes in.
DJ: 42,297.12 +358.67 NAS: 19,088.10
-73.53 S&P: 5,836.22
+9.18 1/13
DJ: 42,518.28 +221.16 NAS: 19,044.39
-43.71 S&P: 5,842.91
+6.69 1/14
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