Thursday’s U.S. stock market opening saw a slight uptick, with investors carefully analyzing fresh inflation data that indicated a modestly higher-than-expected increase in headline consumer prices for the previous month.
Shortly after the opening bell, the Dow Jones Industrial Average (DJIA) showed a 0.1% gain, while the S&P 500 (SPX) and the Nasdaq Composite (COMP) both posted a 0.1% increase, according to the latest FactSet data.
As reported by the Bureau of Labor Statistics, the consumer price index recorded a 0.4% rise in September, slightly exceeding the 0.3% increase predicted by economists surveyed by the Wall Street Journal. Core CPI, which excludes food and energy prices, matched economists’ expectations with a 0.3% increase for the same month.
Annual headline inflation held steady at 3.7% for the 12 months through September, while the core CPI rate eased to 4.1% for the year through the previous month, down from 4.3% in August.
In the bond market, Treasury yields were on the rise, with the 10-year Treasury note yield increasing by three basis points to 4.60%, and the two-year yields rising by around five basis points to approximately 5.05%, according to the latest FactSet data.
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