Published on 12 Dec 2024 on Benzinga
Stocks Slip On Hot Inflation Data, Adobe Tumbles, Natural Gas Hits 1-Year High:...
Risk sentiment soured on Thursday following hotter-than-expected producer inflation data, which dampened optimism for aggressive interest rate cuts in 2025. Adding to the uncertainty, an unexpected rise in jobless claims cast doubt on the resilience of the U.S. labor market.
Major U.S. stock indices were in the red during midday trading in New York. The Nasdaq 100 slipped 0.4%, retreating from its record highs reached in the previous session, while small caps underperformed as the iShares Russell 2000 ETF IWM dropped 1%.