edged slightly lower in the month of October.

Meanwhile, a report released by the Commerce Department showed retail sales in the U.S. 'The Fed will welcome the reprieve, after producer prices recorded a 4.9% annualized gain in Q3, and coupled with yesterday's CPI report, it bolsters the case for no further rate increases,' said Matthew Martin, U.S. Economists had expected the pace of price growth to slow to 1.9 percent.įollowing yesterday's tamer than expected consumer price inflation data, the latest report reinforced expectations that the Federal Reserve is done raising interest rates. The report also said the annual rate of producer price growth slowed to 1.3 percent in October from 2.2 percent in September. Producer prices were expected to inch up by 0.1 percent compared to the 0.5 percent increase originally reported for the previous month. The Labor Department said its producer price index fell by 0.5 percent in October after rising by a revised 0.4 percent in September.

The continued strength on Wall Street came as the latest inflation data added to optimism about the outlook for interest rates.īefore the start of trading, the Labor Department released a report showing an unexpected decrease in U.S. The narrower Dow outperformed, climbing 163.51 points or 0.5 percent to 3,499.21, the blue chip index's best closing level in three months. The Nasdaq inched up 9.45 points or 0.1 percent to a three-month closing high of 14,103.84, and the S&P 500 edged up 7.18 points or 0.2 percent to a two-month closing high of 4.502.88. The major averages fluctuated over the course of the session but managed to end the day modestly higher. import and export prices both fell by more than expected in the month of October may also add to recent optimism about inflation and the outlook for interest rates.įollowing the substantial rally seen in Tuesday's session, stocks saw some further upside during trading on Wednesday. The Labor Department said initial jobless claims rose to 231,000, an increase of 13,000 from the previous week's revised level of 218,000.Įconomists had expected jobless claims to inch up to 220,000 from the 217,000 originally reported for the previous week.Ī separate report from the Labor Department showing U.S. economic data, including a Labor Department report showing jobless claims climbed by much more than expected in the week ended November 11th. However, the futures regained some ground following the release of the latest batch of U.S. Networking giant Cisco Systems (CSCO) is also seeing substantial pre-market weakness after reporting fiscal first quarter results that beat estimates but cutting its full-year revenue forecast. Walmart reported better than expected fiscal third quarter results but forecast full-year earnings toward the low end of analyst estimates. index futures are currently pointing to a slightly lower open on Thursday, with stocks likely to give back ground after moving sharply higher over the past several sessions.Ī negative reaction to earnings news from Walmart (WMT) may weigh on the markets, with the retail giant plunging by 6.1 percent in pre-market trading. Negative Reaction To Walmart, Cisco Earnings May Weigh On Wall Street

Halma reporting