Stock market today: Dow, S&P 500, Nasdaq fall as investors await key inflation data

Published On Dec 10, 2024, 4:03 PM

US stocks experienced a slight decline as investors remained cautious ahead of a key consumer inflation report expected to influence future interest rate decisions. The Dow Jones, S&P 500, and Nasdaq Composite all dropped approximately 0.3%. Notably, Alphabet's shares surged over 5% following the announcement of advancements in quantum computing due to the new Willow quantum chip. In contrast, Oracle's shares fell about 7% after reporting revenue that fell short of Wall Street estimates. Additionally, Kroger shares rose over 5% after a court blocked its acquisition of Albertsons, while Albertsons' shares fell around 3%. The upcoming inflation report is anticipated to show an increase in consumer prices, prompting speculation about potential interest rate cuts by the Federal Reserve later this month.

Read full article

Stock Forecasts

AI prediction results, not representative of any investment advice.

GOOG View GOOG chart on TradingView

Positive

Alphabet's recent announcement regarding its quantum chip could lead to increased investor interest as it represents a significant technological advancement. This gives Alphabet a competitive edge in emerging technology.

ORCL View ORCL chart on TradingView

Negative

Oracle's revenue miss may signal ongoing challenges in the competitive cloud market, which could negatively impact investor sentiment and expectations for future growth.

KR View KR chart on TradingView

Positive

Kroger's shares have rallied after legal challenges to its acquisition plans were resolved favorably for the company, suggesting continued market confidence in its operational strategy.

SPY View SPY chart on TradingView

Negative

The expected rise in inflation may lead to cautious trading in the overall market, potentially impacting other sectors negatively as investors prepare for potential rate cuts by the Federal Reserve.

Related News

Stock market today: S&P 500, Nasdaq slip as investors await key inflation data

Dec 10, 2024, 3:51 PM

Stocks are mixed ahead of a consumer inflation report seen as key to the path of interest rates.

GOOG

ORCL

Federal Judge Blocks $25 Billion Kroger-Albertsons Grocery Merger

Dec 10, 2024, 3:48 PM

The Federal Trade Commission notched a victory in its efforts to block the supermarket merger over concerns about harm to shoppers and workers.

Google stock pops as company unveils new quantum computing chip

Dec 10, 2024, 12:01 PM

Google said that a math equation that would take a classical supercomputer longer than the whole history of the universe to solve takes only five minutes using a quantum computer powered by its new Willow chip.