Wall St ends mixed on inflation, Fed rate-cut hopes

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The Star 1w ago

Wall St ends mixed on inflation, Fed rate-cut hopes - The Star

Quick Summary:

The Dow and the S&P 500 ended slightly higher on Wednesday while the Nasdaq lost ground after October data showed consumer prices rising in line with expectations, adding support to bets that the US Federal Reserve will cut interest rates in December.

Outperformance in the consumer discretionary sector index , up more than 1% on the day, was likely due to bets on rate cuts, according to Kourkafas.

The Dow Jones Industrial Average rose 47.21 points, or 0.11%, to 43,958.19, the S&P 500 gained 1.39 points, or 0.02%, to 5,985.38 and the Nasdaq Composite lost 50.66 points, or 0.26%, to 19,230.74.