On Thursday, October 10th, U.S. markets closed lower as investors weighed conflicting economic data. Inflation came in higher than expected, while jobless claims also rose, signaling potential economic weakness. This uncertainty has led traders to anticipate a possible Federal Reserve rate cut in November.
In economic data, U.S. jobless claims increased to 258,000 in the week ending October 5th, surpassing expectations of 230,000. Meanwhile, annual inflation eased to 2.4% in September, continuing a six-month decline but slightly exceeding the projected 2.3%.
Most S&P 500 sectors closed lower, with real estate, communication services, and industrials seeing the biggest losses, while energy and materials stocks ended higher.
The Dow Jones Industrial Average was down 0.14% and closed at 42,454.12. The S&P ...
