Market Indices React to Inflation Data

The S&P 500 and Nasdaq saw declines after an inflation report meeting some expectations, but still above the Fed's target. The Personal Consumption Expenditure index rose 2.3% annually and 0.2% monthly. Meanwhile, the Dow Jones saw a slight rise as the S&P 500 and Nasdaq reported losses.

The S&P 500 and Nasdaq experienced declines on Wednesday following an inflation report that matched economists' expectations yet remained above the Federal Reserve's 2% goal. This development has nudged investors to reassess their strategies.

According to the Commerce Department, the Personal Consumption Expenditure index, a key measure for the Fed, climbed by an anticipated 2.3% annually in October. On a monthly scale, the index increased by 0.2%, aligning with forecasts.

By 10:03 a.m., the Dow Jones Industrial Average had risen slightly by 47.83 points or 0.11%, reaching 44,908.14. In contrast, the S&P 500 dropped 8.68 points, or 0.14%, to 6,012.95, while the Nasdaq Composite fell by 87.31 points, or 0.46%, to settle at 19,088.26.

(With inputs from agencies.)