Stock market news live updates: Stocks sink as inflation report comes in hotter than expected

S&P Futures



Dow Futures



Nasdaq Futures



Russell 2000 Futures



Crude Oil












10-Yr Bond















CMC Crypto 200



FTSE 100



Nikkei 225



U.S. stock futures fell Thursday after inflation data showed that consumer prices climbed more than expected.

S&P 500 (^GSPC) futures fell more than 2%, while futures on the Dow Jones Industrial Average (^DJI) ticked down 1.8%. The technology-heavy Nasdaq Composite (^IXIC) was down by 3%. The 10-year Treasury yield were back above 4%.

The Bureau of Labor Statistics released its Consumer Price Index (CPI) for September early Thursday, which showed prices rose 8.2% over the prior year and 0.4% over the prior month. Excluding food and energy, the core consumer price index, rose 6.6% from a year ago, marking the highest level since 1982.

Economists surveyed by Bloomberg had expected a slight deceleration to 8.1% annually, while the “core” reading, excluding food and energy, to accelerate to 6.5% from a year earlier.

The September report represents the second consecutive hotter-than-expected CPI print. Following the release of August’s CPI report, the S&P 500 dropped 4.3%, clocking in its worst day of the year. JPMorgan analysts warned in a note on Thursday that if September’s reading came in higher than the prior month’s 8.3%, the S&P 500 could drop as much as 5%.

In any case, investors continue to navigate a murky week marked by corporate earnings and inflation data. On Wednesday, the Producer Price Index (PPI), a measure of prices at the wholesale level, rose 0.4% in September after falling 0.2% during the prior month as inflation persisted.

“A hotter than expected print with smaller declines in energy and persistent increases in housing may make a hotter CPI more likely today,” Andrew Tyler, Head of U.S. Market Intelligence at JPMorgan, wrote in a note.

This content is not available due to your privacy preferences.

Update your settings here to see it.

Also on Wednesday, investors mulled minutes from the Federal Reserve’s latest monetary-policy meeting, in which several Fed officials suggested the risk of doing too little to control price increases outweighed the risk of doing too much.

Wall Street was watching for any hint at when and how much the central bankers will slow their rate increases. But officials’ forecasts from September indicated restrictive monetary policy would stay in place until inflation meaningfully comes down.

“Therefore, while the FOMC may have a dovish faction, for now they are far out of the majority and are still only tentatively making a case to slow the pace of hikes,” analysts at Bespoke Investments wrote in a note to clients.

A trader works on the floor of the New York Stock Exchange NYSE in New York, the United States, Oct. 7, 2022. (Photo by Michael Nagle/Xinhua via Getty Images)

Delta Air Lines (DAL) kicked off earnings before the open. Delta posted a quarterly profit miss by Wall Street estimates on Thursday, while the carrier forecasts travel demand to remain robust despite growing risks of an economic recession. Shares of the Atlanta-based airline were up 5% in pre-market trading.

BlackRock (BLK) also reported earnings, including a 16% drop in profit. Other financial heavyweights such as JPMorgan Chase (JPM) and Morgan Stanley (MS) are set to report on Friday.

“I still think household balance sheets are in decent shape,” JPMorgan Asset Management Global Market Strategist Jordan Jackson told Yahoo Finance Live on Wednesday. “I will acknowledge that we do anticipate another quarter of a buildup in loan loss provisions across banks. This would be the sixth consecutive quarter that banks have decided to build up those loan loss reserves. And that is certainly going to act as a drag on overall bank earnings.”

Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube


The Wall Street Journal

Moderna Stock Jumps After Cancer Vaccine Announcement

Shares of Moderna surged more than 11% on Wednesday after the biotech company [announced]( it would develop and sell a personalized cancer vaccine with Merck. The stock was the biggest gainer on the S 500 around midday. Shares of Merck were little changed. Merck will pay Moderna $250 m


‘There Are Signs That a Market Bottom Is in Sight’: Oppenheimer Likes These 2 Stocks for a Comeback Rally

The big question: Has the market hit a bottom yet? Well, according to Oppenheimer’s Head of Technical Analysis Ari Wald, there are signs one is forming, the most notable of which is that the Russell 2000 index – the barometer for small-cap stocks – “held to the June lows in the most recent late Q3 move to the downside.” Wald also notes that the signal of a market top is when the S&P 500 makes a “higher high, and small caps make a lower high,” and we are currently seeing the opposite scenario pla


Yellen Worries Over Loss of ‘Adequate Liquidity’ in Treasuries

(Bloomberg) — Treasury Secretary Janet Yellen cited concerns about the potential for a breakdown in trading of US Treasuries, as her department leads an effort to shore up that crucial market.Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesUS Core Inflation Seen Returning to 40-Year High as


Core US Inflation Rises to 40-Year High, Securing Big Fed Hike

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesA closely watched measure of US consumer prices rose by more than forecast to a 40-year high in September, pressuring the Federal Rese

Yahoo Finance

Stock market news live updates: Stocks end lower as investors await CPI report

U.S. stocks inched higher Wednesday even as producer price data showed inflation inched up last month and a readout of Federal Reserve meeting minutes affirmed officials were likely to proceed with their rate-hiking plans.


US Futures Sink as Inflation Beat Seals Jumbo Hike: Markets Wrap

(Bloomberg) — US stock futures plunged and Treasury yields spiked after a hot inflation reading all but assured another large Federal Reserve rate increase.Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesFutures on the S&P 500 sank 2% after wiping out overnight gains. The index is already at

Yahoo Finance

The 517-hp Polestar 3 EV SUV will be built in America

Polestar officially took the wraps off its latest creation, the Polestar 3 electric SUV. The stats are quite impressive, but what’s even more intriguing is where the Polestar 3 will be made.
“Polestar 3 is a powerful electric SUV that appeals to the senses with a distinct, Scandinavian design and excellent driving dynamics,” said Polestar CEO Thomas Ingenlath in a statement. “It takes our manufacturing footprint to the next level, bringing Polestar production to the United States. We are proud and excited to expand our portfolio as we continue our rapid growth.”


BlackRock profit beats as ETF demand holds up against market rout

The threat of a recession, rapidly rising interest rates and the Ukraine crisis have slammed both bonds and stocks this year, keeping investors on the back foot in a blow to businesses such as BlackRock. The company’s assets under management (AUM) dropped 16% year-on-year to $7.96 trillion in the third quarter as a stronger dollar also piled on pressure by dampening the value of investments in key European and Asian markets. That still surpassed analysts’ expectations of $7.07 per share, according to IBES data from Refinitiv, as BlackRock managed to partially offset the market downturn thanks to its diversified business model spearheaded by iShares ETFs.

Yahoo Finance UK

FTSE rises as investors await US inflation data

All eyes will be on the upcoming US consumer price figures. Minutes released on Wednesday from the Fed’s last meeting suggested some officials considered reducing the pace of rate hikes.

Motley Fool

Selling AMC Stock Could Be a Genius Move

If you bought $1,000 worth of AMC Entertainment Holdings (NYSE: AMC) stock at its all-time high of $62 in June 2021, you would have roughly $100 today — a decline of 90%. While the movie theater operator seems to be recovering nicely from the COVID-19 pandemic in 2020 and 2021, massive levels of equity dilution could leave investors holding the bag. At the height of the crisis in 2020, AMC’s revenue collapsed by 77% to $1.24 billion against the prior year, and it lost $4.59 billion.


Ray Dalio Says There’s a ‘Perfect Storm’ Brewing; Here Are 2 High-Yield Dividend Stocks to Protect Your Portfolio

The headwinds have piled up for the US economy, and today’s producer price index, coming in well above the forecasts, was just the latest blow. As the PPI reminds us, inflation is stubbornly high, and compounding on last year’s elevated numbers. In addition, we’re facing a 1H GDP contraction, a nosedive in consumer confidence, shaky supplies chains, and the Federal Reserve’s rapid shift to hiking interest rates. And all of that may just be the tip of the iceberg. Billionaire investor Ray Dalio s

Motley Fool

3 Red-Hot Stocks That Could Continue to Beat the Market

Investors often favor that industry during tough times because its earnings are less at risk — patients can’t do without the products these companies sell. Shares of Axsome Therapeutics (NASDAQ: AXSM), Regeneron Pharmaceuticals (NASDAQ: REGN), and Vertex Pharmaceuticals (NASDAQ: VRTX) have actually been climbing this year, and it doesn’t look as if those trends will end any time soon. Axsome Therapeutics attracted investors’ attention as it moved closer to product commercialization.

Motley Fool

What’s Been Driving the Warner Bros. Discovery Stock Plunge?

It has been awful time for investors in media company Warner Bros. Discovery (NASDAQ: WBD). The potential synergies and economies of scale looked to position the combined company well to compete in the media and entertainment industry. Since the merger was structured so that AT&T would spin off its holding of WarnerMedia and then merge the company with Discovery, AT&T investors got shares of the new company without doing anything.

Leave a Reply

Your email address will not be published. Required fields are marked *