US stocks were in the green on Thursday, with the S&P 500 adding 0.3% to hit new highs, while the Nasdaq was up 0.3% and the Dow Jones rose almost 200 points as investors digested the latest US CPI report.
The data came largely in line with expectations, showing annual inflation accelerating to 2.9% while core inflation held steady at 3.1%. However, headline CPI rose 0.4% on the month, above forecasts of 0.3%. The report did little to shift market expectations for a Fed rate cut next week, with investors nearly fully pricing in three cuts by year-end.
Meanwhile, initial jobless claims jumped to a near four-year high, reinforcing signs of a cooling labor market. The health sector was the top performer while energy and communication services were in the red. Megacaps were mixed, with Nvidia (0.4%), Apple (0.5%), Amazon (0.1%) and Tesla (0.6%) gaining while Microsoft (-0.2%), Meta (-0.2%), Broadcom (-1.2%) and Alphabet (-0.6%) booked losses.
Source : Trading Economics
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