Stock market today: Dow, S&P 500, Nasdaq trade mixed as inflation print keeps Fed rate cut on track

Published On Nov 13, 2024, 11:05 AM

Recent consumer inflation data showed a rise in the Consumer Price Index of 2.6% year over year in October, meeting forecasts and indicating that the Federal Reserve is likely on track for another rate cut in December. Despite slight increases in prices, core inflation also remained stable. Market trends showed mixed results for major indices, with the Dow inching up while the S&P 500 and Nasdaq fell slightly. Speculation continues regarding how the incoming administration's policies may affect inflation and interest rates. In corporate news, Tesla faced fluctuations in its stock price amidst these economic developments, while Rivian's shares spiked due to increased investment from Volkswagen.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

The consumer inflation data aligns with market expectations, potentially creating a favorable climate for stocks moving forward, especially if rate cuts are confirmed. Companies with stable earnings amid inflationary pressures may benefit from a lower interest rate environment.

TSLAView TSLA chart on TradingView

Neutral

Tesla's reliance on consumer sentiment and government policy can create volatility. If inflation stabilizes and rate cuts occur, there may be improved investor confidence, but ongoing operational challenges could cap stock performance.

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