Stocks Are Falling. Tech Earnings Outweigh Latest Inflation News.
The stock market opened lower Thursday after the latest economic data wasn’t enough to grab investors’ attention away from Big Tech earnings.
The Dow Jones Industrial Average dropped 0.5%, while the S&P 500 was down 0.9% and the Nasdaq Composite was losing 1.2%.
The personal consumption expenditures index, the Federal Reserve’s preferred gauge of inflation, rose 2.1% year over year in September, down from August’s 2.3% result and in line with estimates.