2 weeks Ago By The Straits Times
Traders work on the floor of the New York Stock Exchange, in New York City. NEW YORK - US stocks were little-changed on Nov 13, as traders digested fresh data pointing to a small and widely expected rise in inflation in October. The Dow Jones Industrial Average inched up 0.
1 per cent to 43,958.19, while the broad-based S&P 500 rose by less than 0.1 per cent to 5,985.
38. The tech-rich Nasdaq Composite Index fell 0.3 per cent to 19,230.
74. There had been some concern ahead of the Nov 13 CPI report that it could be hotter than expected, B. Riley Wealth Management chief market strategist Art Hogan told AFP.
But in the end, the Consumer Price Index (CPI) rose to 2.6 per cent in the 12 months to October, in line with economists’ expectations. “The drivers in large part are the fact that the CPI came in very much in line with expectations, and some buzz in the markets yesterday,” he said.
“So that coming in line was very much a positive.” Among individual stocks, the chip designer AMD fell more than 3 per cent as the company announced it was laying off around four percent of its employees. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
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