U.S. Inflation Rises, But Markets Remain Steady
TL;DR Summary
U.S. inflation rose slightly in October, with core inflation at 2.8% annually, but this did not alarm investors. The S&P 500 ended its seven-day rally, and the Nasdaq dropped 0.6% as traders took profits from Big Tech stocks. Despite the market dip, investors remain optimistic, with many betting on a Federal Reserve rate cut in December. Bitcoin, meanwhile, rebounded by 5.4%, moving contrary to U.S. stock trends. Overall, the market remains stable, with most S&P stocks above their 200-day moving average, as investors prepare for Thanksgiving.
- CNBC Daily Open: U.S. inflation edged up but investors aren’t fazed CNBC
- Fed’s preferred inflation gauge rises to 2.3% annually, meeting expectations CNBC
- Treasury Yields Have Dipped. It’s Not Too Late to Buy Bonds Barron's
- US economy holds firm in early Q4; inflation stuck above Fed's target Reuters
- US consumer price increases accelerated last month with inflation pressures resilient The Associated Press
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