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US Equities Markets End Lower Thursday as Traders Parse Inflation Report
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US Equities Markets End Lower Thursday as Traders Parse Inflation Report
Oct 10, 2024 11:28 PM

04:01 PM EDT, 10/10/2024 (MT Newswires) -- US benchmark equity indexes ended lower Thursday after official data showed consumer inflation increased at a more-than-projected pace in September.

* The US consumer price index increased 0.2% last month, the same as in July and August, according to the Bureau of Labor Statistics. The latest reading was ahead of the 0.1% forecast in a Bloomberg-compiled survey. Annually, inflation cooled to 2.4% from August's 2.5%, but was above the 2.3% Wall Street consensus.

* The market probability that the Federal Open Market Committee lowers interest rates by 25 basis points next month was unchanged at 80% on Thursday from Wednesday, according to the CME FedWatch tool.

* Last month, the Federal Reserve lowered its benchmark lending rate by 50 basis points, compared with a Bloomberg-compiled consensus that had indicated a quarter-percentage-point reduction.

* November West Texas Intermediate crude oil closed up $2.61 to settle at $75.85 per barrel, while December Brent crude, the global benchmark, was last seen up $2.58 to $79.16 as worries over a spreading Middle Eastern war continue to support prices despite tepid demand.

* CrowdStrike ( CRWD ) was up 5.7%. The company and Plurilock Security said they are partnering on an offering to secure critical infrastructure in "democratic nations and economies" against cybersecurity threats.

* Delta Air Lines ( DAL ) issued a weak Q4 earnings outlook amid expectations for subdued travel demand around the US presidential elections in November, as the air carrier's bottom-line fell short of market estimates in the prior three-month period, while revenue beat the Street's forecasts. The company's shares were down 1.7%.

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