U.S. stocks dip as bond yields rise, inflation data fuels market

U.S. Stock indices slipped on Wednesday, with the S&P 500 falling 0.3% to close its third losing month in the last four. The Dow Jones Industrial Average dropped 443 points, or 0.9%, while the Nasdaq composite added 0.2%.

The decline followed a stronger‑than‑expected inflation report that showed consumer prices rose 3.4% in August, lower than the 3.7% forecast but still above the Fed’s 2% target. Treasury yields moved in tandem, with the two‑year Treasury falling to 4.83% before climbing to 4.89%, the 10‑year Treasury dropping to 5.20% before rising to 5.29%, and the 30‑year Treasury climbing from 5.59% to 5.64%. Oil prices also rose, with Brent crude climbing 1.9% to $98.03 per barrel.

Individual stocks contributed to the market’s movement: Cal‑Maine Foods fell 0.7% after reporting a larger loss for the latest quarter; Hewlett Packard Enterprise gained 3.9% after raising its networking revenue forecast; MongoDB climbed 3.4% following a $1 billion buyback program. Global indices also moved, with Japan’s Nikkei 225 up 1.9% and France’s CAC 40 down 0.9%.

Read the full story at nwaonline.com.