Stocks are little changed as traders assess state of postelection rally, new inflation data
U.S. stocks were flat Wednesday as investors look to keep a postelection rally going after a key inflation report was in line with expectations.
The Dow Jones Industrial Average rose 100 points, or 0.2%. The S&P 500 slipped 0.02%, while the Nasdaq Composite ticked down 0.3%.
The October consumer price index accelerated a tad to a 2.6% annual rate, matching the consensus estimate from economists polled by Dow Jones. Core prices, which exclude food and energy from the reading, rose 3.3% last month, which also matched estimates. After the inflation report, fed funds futures trading suggested a high likelihood that central bank policymakers would cut rates again in December, according to the CME FedWatch tool.
Source: CNBC
