Little changed for the S&P 500 as investors eye the inflation report and the big energy crisis: live updates

Stocks were choppy on Wednesday as investors tried to shake off hotter inflation data than predicted and welcomed a big energy merger. Treasury yields continued to fall from 16-year highs reached last week.

The Dow Jones Industrial Average fell about 66 points, or about 0.2%, for its fourth straight day of gains. On Wednesday, the Dow Jones dominated the Wednesday session, rising more than 143 points. Meanwhile, the S&P 500 lost 0.2% and the Nasdaq Composite rose less than 0.1%.

shares initially rose despite further wholesale trading in the US release of inflation data. The producer price index rose 0.5% in September, above the Dow Jones estimate of a 0.3% increase. This number still represented a slowdown from 0. Producer prices rose 7% last month.

The 10-year Treasury yield fell even after better-than-expected inflation data, reaching its lowest level since September 29. The 10-year bond recently lost more than 6 basis points to 4.59%. At the same time, the two-year bond yield rose less than a basis point to 4.993.

He expressed his opinion, stating, “I believe the market acknowledges that managing inflation is likely more achievable in the early part of the year, but the subsequent efforts to curb inflation might pose greater challenges.”, said Brock Campbell, head of global research at Newton Investment Management Group. He added that a strong wage rise in September would fuel the market rally this week.

“The current market fairytale of moderate inflation and good employment conditions continues in the near term, and favorable investment conditions remain” – despite the inflation label, Campbell said.

So far this week, the broader index is up 1.2% and the Dow is up 0.9%. The tech-heavy Nasdaq index also rose 1.3% for the week.

The impending release of the Federal Reserve’s meeting minutes later today promises to provide additional perspective on the central bank’s decision to forgo a rate hike in the previous month. Investors are also eagerly anticipating the release of the consumer price index report for September scheduled for Thursday.

Earlier today, Exxon Mobil made a significant move by announcing an all-stock acquisition of shale drilling company Pioneer Natural Resources for $59.5 billion, marking the most substantial merger unveiled on Wall Street in the current year. Pioneer shares were up 0.5%, while Exxon fell about 4.7%.

Investors continue to fear the ongoing war between Israel and Hamas after the militant group launched an attack on Israeli civilians in the country’s deadliest offensive in 50 years. President Joe Biden on Tuesday condemned the Hamas attacks as terrorism and said the United States stands with Israel.

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