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Stock market today: Indexes end lower as tech slips and bond yields rise after PPI


Published on 2024-12-13 08:40:49 - Business Insider
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  • Indexes dropped after wholesale inflation data. Adobe's sharp decline after earnings weighed on the Nasdaq, while Nvidia and Tesla shares also ended lower.

The article from Business Insider discusses the recent trends in the U.S. stock market, focusing on the impact of wholesale inflation data. Producer prices in November rose by 0.9% year-over-year, which was lower than the expected 1% increase, signaling a cooling in inflation pressures. This news led to a positive reaction in the stock market, with tech stocks like Nvidia, AMD, and Microsoft experiencing significant gains. The S&P 500 and Nasdaq both saw increases, with the S&P 500 up by 0.5% and Nasdaq by 0.7%. The article also mentions that despite the positive market response, there are concerns about the Federal Reserve's future interest rate decisions, as the PPI data might influence their policy. Additionally, the market's reaction was influenced by broader economic indicators, including a slight uptick in consumer sentiment and expectations of a potential rate cut in 2024.

Read the Full Business Insider Article at:
[ https://markets.businessinsider.com/news/stocks/stock-market-today-wholesale-inflation-producer-prices-tech-stocks-ppi-2024-12 ]