U.S. Stocks Slip as Inflation Rises and Iran Tensions Push Treasury Yields Higher
Wall Street finished lower on Thursday as investors worked through the newest round of inflation data. All three major indexes slipped, with the Dow and Nasdaq each losing about six‑tenths of a percent and the S&P 500 falling roughly half a percent. Only two of the market’s eleven sectors managed to end the day higher, led by communication services, while materials stocks were the weakest group. The latest Producer Price Index for August showed wholesale inflation rising 0.4% from the prior month, matching expectations but coming in noticeably hotter than July’s revised figure. Weekly jobless claims also declined, though not as much as economists had anticipated. Clark Bellin of Bellwether Wealth noted that the PPI reading was largely in line with forecasts, which may give the Federal Reserve room to hold off on raising rates at next week’s meeting if Friday’s consumer inflation report also comes in tame. Geopolitical tensions added another layer of uncertainty. U.S. Central Comman...