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A trader works on the floor of the New York Stock Exchange (NYSE) during the opening bell on November 26, 2024 in New York.
Timothy A. Clary | Afp | Getty Images
US stocks fell on Thursday after investors expected a warmer-than-expected producer price index reading for November.
Wide market S&P 500 It lost 0.2%, while the technological one Nasdaq Composite down 0.3%. The Dow Jones Industrial Average It has made 38 points less, which is about 0.1%.
Tech stocks led the decline, with Nvidia losing more than 2%. Meta Platforms, Alphabet and Amazon were also slightly lower.
The producer price index, which tracks wholesale prices, It was up 0.4% last month. Economists polled by Dow Jones had expected a 0.2% monthly increase.
This follows November consumer price index reportIt was in line with economists’ estimates and has prompted investors to expect another rate cut by the Federal Reserve at its next week’s policy meeting.
Fed futures data reflect a 98% probability that central bankers will cut rates next week, CME FedWatch tool.
“While Thursday’s PPI was stronger than expected, we believe the Federal Reserve will continue with its planned 25 basis point rate cut in December, as other inflation data points in recent weeks and months have moved in the right direction,” Clark said. Bellin, president and chief investment officer of Bellwether Wealth.
Wall Street is coming off a mixed session, with the Nasdaq breaking above 20,000 for the first time and making new all-time and closing highs. Wide market S&P 500 win too The Dow, however, retreated slightly, marking its fifth consecutive session in the red.
Huge software Adobe It fell more than 12% after the company’s 2025 forecast was weaker than expected.
