Stock indexes mixed, Nasdaq 100 at new high, Dow Jones falls, US inflation met expectations.

From Nasdaq: 2024-12-11 14:28:47

Stock indexes today saw mixed performance, with the Nasdaq 100 hitting a new high and the Dow Jones falling. US consumer prices for November met expectations, boosting the likelihood of a Fed rate cut next week to 96%. UnitedHealth Group’s 5% drop weighed on the Dow due to potential legislation affecting health insurers.

Interest rates saw a dip in March 10-year T-notes as inflation expectations rose. European government bond yields also fell. Swaps predict a 100% chance of a -25 bp ECB rate cut. GE Vernova led S&P 500 gainers, while Alphabet surged in the Nasdaq 100. Health insurance stocks like UnitedHealth Group tumbled.

Alphabet leads Nasdaq 100 gainers with a 4% surge, while Broadcom rises over 3% on Apple collaboration news. Patterson Cos jumps 34% after acquisition deal. ICU Medical and Wolverine Worldwide also see gains. Mueller Industries rises 5% after an upgrade. Mondelez International climbs 3% after Hershey rejection.

Macy’s stock drops over 6% after cutting EPS forecast. Hershey and Dave & Buster’s face declines after news. C3.ai and Travelers Cos also see drops. Principal Financial Group falls over 1%. Earnings reports for Adobe, Macy’s, and other companies are scheduled for 12/11/2024. Jeffries downgraded Macy’s stock.



Read more at Nasdaq: Stocks Mostly Higher on a Benign US Inflation Report