US close: Stocks mixed following October CPI reading

(Sharecast News) - Wall Street stocks delivered a mixed performance on Wednesday as market participants digested fresh inflation data. At the close, the Dow Jones Industrial Average was up 0.11% at 43,958.19, while the S&P 500 advanced 0.02% to 5,985.38 and the Nasdaq Composite saw out the session 0.26% softer at 19,230.73.

The Dow closed 47.21 points higher on Wednesday, doing little to reclaim losses recorded in the previous session as major indices took a break from their recent post-election rally.

Wednesday's primary focus was news that the US consumer price index increased to 315.66 points in October, according to the Bureau of Labor Statistics, up from 315.30 points in September. The reading will likely play a big part in influencing the Federal Reserve's monetary policy decisions going forward.

On a monthly basis, CPI rose by 0.2%, in line with both the previous three months and analysts' expectations, while the annual inflation rate increased to 2.6% in October, up from 2.4% in September. Core inflation, which strips out volatile food and energy prices, was up 3.3% on an annualised basis and 0.3% on a monthly basis.

Elsewhere on the macro front, US mortgage applications rose 0.5% in the week ended 8 November, according to the Mortgage Bankers Association of America, in line with the 72 basis point surge in benchmark interest rates since the beginning of Q4. Applications to refinance a mortgage fell 2% week-on-week, while purchase applications rose 2%.

In the corporate space, Spotify shares traded higher despite posting quarterly numbers that fell short of Wall Street expectations on both the top and bottom lines.



Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $24.92 3.15% Chevron Corp. (CVX) $158.72 2.21% Verizon Communications Inc. (VZ) $41.14 1.83% Home Depot Inc. (HD) $410.19 1.76% Walt Disney Co. (DIS) $102.72 1.71% Amgen Inc. (AMGN) $301.44 0.87% 3M Co. (MMM) $131.37 0.84% Cisco Systems Inc. (CSCO) $59.18 0.80% JP Morgan Chase & Co. (JPM) $241.16 0.67% Walmart Inc. (WMT) $85.50 0.60%

Dow Jones - Fallers

Boeing Co. (BA) $139.97 -3.58% Caterpillar Inc. (CAT) $387.07 -1.51% Unitedhealth Group Inc. (UNH) $605.87 -1.43% Travelers Company Inc. (TRV) $256.67 -0.51% McDonald's Corp. (MCD) $297.06 -0.44% Coca-Cola Co. (KO) $63.02 -0.32% American Express Co. (AXP) $287.64 -0.30% Nike Inc. (NKE) $76.52 -0.18% Visa Inc. (V) $309.59 -0.12% Dow Chemical Co. (DOW) $44.99 -0.11%

S&P 500 - Risers

Albemarle Corp. (ALB) $108.33 5.24% Dollar Tree Inc (DLTR) $65.15 4.63% Fluor Corp. (FLR) $50.33 3.77% Charter Communications Inc. (CHTR) $406.22 3.63% ProLogis (PLD) $116.64 3.39% MGM Resorts International (MGM) $37.97 3.35% Humana Inc. (HUM) $289.42 3.34% Molson Coors Beverage Co. Class B (TAP) $63.92 3.22% Cummins Inc. (CMI) $366.34 3.17% Intel Corp. (INTC) $24.92 3.15%

S&P 500 - Fallers

Resmed Inc. (RMD) $235.44 -4.76% Skyworks Solutions Inc. (SWKS) $83.18 -4.43% Micron Technology Inc. (MU) $99.92 -4.02% Bread Financial Holdings, Inc. (BFH) $56.29 -4.01% CenturyLink Inc. (LUMN) $8.89 -3.68% Boeing Co. (BA) $139.97 -3.58% Baxter International Inc. (BAX) $32.63 -3.55% Texas Instruments Inc (TXN) $205.72 -3.32% FMC Technologies Inc. (FTI) $28.24 -3.12% Lincoln National Corp. (LNC) $35.04 -3.07%

Nasdaq 100 - Risers

Dollar Tree Inc (DLTR) $65.15 4.63% Charter Communications Inc. (CHTR) $406.22 3.63% Vodafone Group Plc ADS (VOD) $8.75 3.31% Intel Corp. (INTC) $24.92 3.15% Cadence Design Systems Inc. (CDNS) $306.47 2.92% Amazon.Com Inc. (AMZN) $214.10 2.48% Workday, Inc. (WDAY) $276.51 2.29% Netflix Inc. (NFLX) $830.47 1.34% Adobe Systems Inc. (ADBE) $532.50 1.15% Autodesk Inc. (ADSK) $313.14 1.10%

Nasdaq 100 - Fallers

Liberty Global plc Series A (LBTYA) $11.90 -42.62% Liberty Global plc Series C (LBTYK) $12.21 -42.13% Qurate Retail Inc. (QRTEA) $0.43 -6.19% Skyworks Solutions Inc. (SWKS) $83.18 -4.43% Micron Technology Inc. (MU) $99.92 -4.02% Texas Instruments Inc (TXN) $205.72 -3.32% Analog Devices Inc. (ADI) $212.84 -3.06% KLA-Tencor Corp. (KLAC) $644.55 -3.04% Trip.com Group Limited (TCOM) $62.08 -3.03% NetEase Inc. Ads (NTES) $76.28 -2.79%