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

US stocks experienced mixed results as investors evaluated new consumer inflation data that was in line with forecasts, which suggests the Federal Reserve may proceed with a rate cut in December. The Consumer Price Index for October showed an increase of 2.6% year-over-year, matching expectations and indicating that inflation pressures persist. The data hinted at an ongoing debate within the Fed regarding future monetary policy, particularly under the incoming Trump administration's potential economic policies, which could influence inflation. Notably, stocks like Rivian saw an uplift due to increased investment from Volkswagen, while Tesla faced volatility due to leadership changes.