JKB Financial Services Ltd.

As on : 11-Oct-2024

Market Commentary - Foreign Markets
11-Oct-2024 15:18

US stocks close slightly lower

US stocks ended slightly lower on Thursday as rising consumer inflation data dampened investor sentiment. The major averages moved to the upside going into the close of trading but remained in the negative. The Dow eased 57.88 points or 0.1 percent to 42,454.12, the Nasdaq edged down 9.57 points or 0.1 percent to 18,282.05 and the S&P 500 dipped 11.99 points or 0.2 percent to 5,780.05. Focus shifted to the upcoming third-quarter earnings season, which was set to kick off later that day. Headline US consumer price index (CPI) inflation eased slightly in September, falling from 2.5% to 2.4% year-over-year. However, core CPI inflation, which excludes volatile food and energy prices, rose to 3.3% from 3.2%. Additionally, initial jobless claims in the US also increased for the week ending October 4, reaching 258,000. This represented the highest level of new jobless claims since June 2023.

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