Stock futures are little changed as traders await consumer inflation report: Live updates - CNBC
U.S. stock markets declined as investors reacted to higher-than-expected September inflation data. The report has increased speculation regarding potential Federal Reserve interest rate adjustments in December.
Why it matters
Inflation data and Federal Reserve policy are critical drivers of global financial markets and consumer purchasing power.
The S&P 500 pulled back on Wednesday, pressured by losses in the artificial intelligence trade, as investors reacted to hotter-than-expected September consumer inflation data .
The broad market index fell 1.11% to end at 7,718.94, while the Nasdaq Composite shed 1.88% to close at 26,692.87. The Dow Jones Industrial Average declined 48.62 points, or 0.09%, to 51,621.48. Gains in key healthcare stocks such as UnitedHealth and Amgen kept the 30-stock index's losses in check.
The consumer price index rose 0.6% in September month over month, with its year-over-year gain coming in at 3.7%. While the former was in line with expectations, the latter was hotter than expected, as economists polled by Dow Jones had anticipated a 3.6% advance on the year.
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