Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Stocks- Wall Street Edges Down After CPI Data Release

Stock Markets Feb 14, 2018 09:45AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Wall Street opened lower on Wednesday.

Investing.com – Wall Street was lower on Wednesday after a better than expected inflation report sparked investor concern over raising interest rates.

The S&P 500 was down eight points or 0.31% to 2,654.66 as of 9:43 AM ET (14:43 GMT) while the Dow composite decreased 116 points or 0.47% to 24,524.0, and tech heavy NASDAQ Composite was down five points or 0.08% to 7,008.17.

Markets were on edge after U.S. consumer prices rose more than expected in January, supporting speculation that the Federal Reserve will raise interest rates more than expected this year.

The Labor Department said that consumer prices rose by a seasonally adjusted 0.5% last month, above forecasts for an increase of 0.3% and following a gain of 0.2% in December.

Year-over-year, consumer prices were 2.1% higher from the same month a year earlier, beating expectations for a gain of 1.9% and after rising 2.1% in the preceding month.

Social media site Twitter Inc (NYSE:TWTR) fell 1.70% after the morning bell rang while Tesla (NASDAQ:TSLA) dipped 0.91% and Intel (NASDAQ:INTC) was down 0.66%. Meanwhile TripAdvisor Inc (NASDAQ:TRIP) slumped 1.96% ahead of its earnings report while Apple (NASDAQ:AAPL) inched down 0.31%.

Elsewhere Chinese e-commerce firm Alibaba (NYSE:BABA) rose 1.62% while fashion designer Fossil Group Inc (NASDAQ:FOSL) surged 77.21% after reporting higher than expected earnings. Restaurant group Chipotle Mexican Grill Inc (NYSE:CMG) ws up 12.84% after it announced Taco Bell’s CEO Brian Niccol would step in as its new CEO.

In Europe stocks were up. In Germany the DAX rose 33 points or 0.27% while France’s CAC 40 increased 20 points or 0.40% and in London the FTSE 100 gained 38 points or 0.53%. Meanwhile Spain’s IBEX 35 was up 17 points or 0.18% and the pan-European Euro Stoxx 50 inched up four points or 0.13%.

In commodities, gold futures were up 0.46% to $1,336.50 a troy ounce while crude oil futures fell 1.39% to $58.37 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rallied 0.20% to 89.78.

Stocks- Wall Street Edges Down After CPI Data Release
 

Related Articles

Wall Street cuts losses following Fed minutes
Wall Street cuts losses following Fed minutes By Reuters - Aug 17, 2022 14

By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks sharply pared losses in afternoon trading on Wednesday after minutes from the Federal Reserve's July meeting showed...

Amazon Tests TikTok Style In-App Feature - WSJ
Amazon Tests TikTok Style In-App Feature - WSJ By Investing.com - Aug 17, 2022

By Sam Boughedda Amazon (NASDAQ:AMZN) is said by The Wall Street Journal to be testing a feature that shows products in a TikTok-style photo and video feed. The feature being...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email