Stock market today: Dow rises, Nasdaq slips after key Fed inflation gauge shows faltering progress
Published On Nov 27, 2024, 11:30 AM
The US stock market showed mixed performance, with the Dow Jones Industrial Average slightly up while the Nasdaq Composite dropped. This divergence comes after data indicated stagnation in inflation progress, with the Federal Reserve's preferred inflation gauge revealing flat price increases. The core Personal Consumption Expenditures index aligned with expectations, suggesting the Fed's 2% inflation target remains a challenge. Meanwhile, although third-quarter GDP growth held steady at an annualized 2.8%, jobless claims decreased. Investor sentiment is cautious as they approach the holiday weekend and digest these economic indicators.