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US Indexes, Treasury Yields Mixed as Investors Weigh Hotter-Than-Forecast Inflation, Surging Jobless Claims
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US Indexes, Treasury Yields Mixed as Investors Weigh Hotter-Than-Forecast Inflation, Surging Jobless Claims
Oct 10, 2024 11:19 PM

12:43 PM EDT, 10/10/2024 (MT Newswires) -- US equity indexes and government bond yields were mixed in choppy midday trading on Thursday as headline and core inflation rates came in hotter than forecasts and jobless claims soared more than anticipated.

The Nasdaq Composite rose 0.1% to 18,315.1, with the S&P 500 little changed at 5,791.2 and the Dow Jones Industrial Average 0.1% lower at 42,471.3. Energy led the gainers while real estate the decliners intraday.

The consumer price index increased 0.2% in September, the same as in July and August, the Bureau of Labor Statistics said Thursday. 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.

Core inflation, which excludes the volatile food and energy components, grew by 0.3% in September, the same as in August but ahead of analysts' 0.2% forecast. At the annual level, core inflation at 3.3% was above the 3.2% Bloomberg consensus.

Further, in economic news, US initial jobless claims jumped to 258,000 in the week ended Oct. 5 from an unrevised 225,000 in the previous week, above the expectations for 230,000 in a survey of analysts compiled by Bloomberg and hitting its highest since the week ended Aug. 5, 2023.

US Treasury yields traded mixed intraday, with the 10-year yield up 1.3 basis points to 4.08%, while the two-year rate was 5.1 basis points lower at 3.97%.

In company news, CrowdStrike ( CRWD ) and Plurilock Security said Thursday they are partnering on an offering to secure critical infrastructure in "democratic nations and economies" against cybersecurity threats. Shares of CrowdStrike ( CRWD ) were up nearly 4% intraday, among the top gainers on the S&P 500 and the Nasdaq.

Gold rose 0.5% to $2,639.61 an ounce, while silver jumped 1.5% to $31.12.

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