US Stock Markets Today: Dow Jones Falls, Nasdaq 100 Rises After CPI Data Announcement

On Wednesday, two of the three major Wall Street indices saw positive movement following the announcement of the US consumer price index (CPI) data.

The S&P 500 index increased by 0.50%, reaching 6,064.80 points, while the Nasdaq Composite experienced a rise of 0.81%, climbing to 19,846.20 points.

In contrast, the Dow Jones Industrial Average, which consists of 30 key stocks, fell by 0.35% at the start of trading, landing at 44,247.83 points.

Notable stocks that declined included Johnson & Johnson, dropping 0.83%, Cisco Systems Inc. which fell 0.22%, and Walt Disney Co., down 0.15%. However, some companies saw gains; Boeing Co. surged by 2.55%, and Amazon.com Inc. increased by 1.62%.

Among the 11 sectors of the S&P 500, three sectors improved, while eight sectors lagged compared to the previous day's performance. The leading sectors included communication services, consumer staples, and consumer discretionary, whereas energy, healthcare, and real estate faced setbacks.

In November, US consumer prices continued to rise. The core CPI, not factoring in food and energy prices, increased by 0.3% for the fourth consecutive month, according to data released by the Bureau of Labor Statistics. Year-over-year, the core CPI rose by 3.3%.

Market analyst Schulze mentioned to Bloomberg, "The debate for the FOMC next week between cut or skip is over. This inflation print should be risk asset friendly and provide a tailwind to equity markets as we move through one of the strongest seasonal periods of the year."

As trading commenced, spot gold saw a slight increase of 0.26%, priced at $2,701.39. Brent crude oil also had a positive start, rising 0.83% to $72.79 per barrel.

The Bloomberg Dollar Index recorded a modest rise of 0.1%. The British pound experienced slight changes, trading at $1.2756, while the Japanese yen fell 0.1% against the dollar, sitting at 152.12.

In the cryptocurrency market, Bitcoin, the leading digital currency, saw an increase of 1.8%, bringing its value up to $98,634.26.

Overall, the market fluctuations reflect ongoing reactions to economic data and trends, showcasing the mixed performance of major indices and sectors.

Stocks, Market, CPI