S&P 500 Little Changed as Stocks Consolidate After US Inflation

After the S&P 500 and Dow Jones Industrial Average closed at record highs yesterday, today saw a retreat as major US stock indices ended the session lower, albeit marginally. This downturn followed higher-than-expected US CPI data. At the same time, initial jobless claims came in above forecasts, which may have been influenced by the recent hurricane.

This uptick in claims was enough to weigh down both the USD and stock markets, although the reaction seemed somewhat mixed. Meanwhile, AMD shares dropped 4.0% today after unveiling a new AI chip that it hopes will challenge Nvidia’s data center GPUs, particularly the anticipated Blackwell models.

S&P 500 Chart Daily – Holding Above previous Highs

Closing Prices for Main US Indices

• Dow Industrial Average: Decreased by 58 points, or -0.15%, ending at 42,454.
• S&P Index: Declined by 12 points, or -0.2%, closing at 5,780.
• NASDAQ Index: Dropped by 10 points, or -0.1%, to finish at 18,282.
• Russell 2000 (Small-Cap): Fell by 12 points, or -0.5%, ending at 2,188.

The market looked promising early today, but it’s been quite a turbulent day with the CPI figures. In corporate news, Delta’s shares fell 1.4% in premarket trading after the company revised its Q4 guidance downward. The stock initially dropped by 5% before bouncing back. Delta also suggested that travel bookings might dip around the upcoming election—a pattern they say is typical. I’ll be checking further into this to gauge if there’s any broader impact on consumer trends.

Closing Changes for Major European Bourses

• Stoxx 600: Down 0.2%
• German DAX: Down 0.2%
• France CAC: Down 0.2%
• UK FTSE 100: Down 0.1%
• Spain IBEX: Down 0.7%
• Italy’s FTSE MIB: Up 0.4%

S&P 500 Live Chart

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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