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Mon, December 9, 2024

Stock market today: Rally stalls as Nvidia slips and investors await latest inflation data


Published on 2024-12-09 11:01:06 - Business Insider
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  • "Recent Fed speak suggests it will be a live meeting and cuts beyond December aren't a guarantee," Bank of America said.

The U.S. stock market experienced a pause in its rally as investors awaited key inflation data, specifically the December consumer price index (CPI) report due on Thursday. This report is crucial as it could influence the Federal Reserve's decisions on interest rates. The S&P 500 and Nasdaq both saw slight declines, with the S&P 500 down 0.1% and Nasdaq down 0.3%, while the Dow Jones Industrial Average managed a small gain of 0.1%. The market's reaction was mixed, with some sectors like technology showing resilience, whereas others like real estate and utilities underperformed. Investors are particularly focused on whether inflation has cooled enough for the Fed to consider rate cuts, with expectations leaning towards a potential rate cut in March if the inflation data supports it. Additionally, comments from Fed officials and economic indicators like the recent jobs report are also influencing market sentiment.

Read the Full Business Insider Article at:
[ https://markets.businessinsider.com/news/stocks/stock-market-today-rally-takes-breather-investors-await-inflation-data-2024-12 ]
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