Stocks Dip After CPI Data as Dow Falls Nearly 400 Points
TL;DR Summary
U.S. stocks slipped following the December CPI report, with the Dow down about 398 points (0.8%) and the S&P 500 and Nasdaq also lower. The headline CPI rose 2.7% year over year and the core rate 2.6%, dampening expectations for an imminent rate cut. Weak earnings from JPMorgan and other large names weighed on the market, while energy stocks rose on higher oil prices.
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