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 stock markets showed mixed results as investors reacted to fresh consumer inflation data that aligned with forecasts. The Consumer Price Index for October indicated a year-over-year rise of 2.6%, maintaining inflation awareness among investors and keeping the Federal Reserve on track for a possible interest rate cut in December. With 80% of traders anticipating this rate cut, market volatility remains a concern. Notably, Tesla's stock faced pressure despite CEO Elon Musk's new role in government, while Rivian's stock surged due to increased investment from Volkswagen, indicating a shift in the electric vehicle landscape.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

RIVN View RIVN chart on TradingView

Positive

Potential for increased interest in electric vehicle stocks post-election, particularly with Rivian's growth supported by Volkswagen's investment.

TSLA View TSLA chart on TradingView

Negative

Possible downturn in Tesla's stock due to pressures from market reaction to government policy changes and Musk's new government role.

SPY View SPY chart on TradingView

Positive

Market stabilization expected with anticipated Federal Reserve interest rate cut, which could support overall stock growth.

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