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Barchart
Barchart
Rich Asplund

Stocks Finish Mostly Higher as CPI Report Matches Expectations

United States Donald Trump Inflation Dow Jones Industrials Kashkari BNP Paribas Exane Evercore ISI Minneapolis Fed SP 500 US Federal Reserve

The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.02%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.16%.

Stocks on Wednesday settled mixed.  The overall market found support from the as-expected US October consumer price report.  The benign inflation report boosted the chances of a 25 bp rate cut by the Fed next month to 82% from 62% before the report.  Stocks also found support on dovish comments from Minneapolis Fed President Kashkari, who said inflation is headed in the right direction.  However, the Nasdaq 100 Index closed lower due to weakness in chip stocks.

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