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Stock market today: Indexes slip as investors brace for November inflation report


Published on 2024-12-10 19:01:08 - Business Insider
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  • Stocks wobbled before a key inflation report. November CPI data comes ahead of the Fed's final meeting of 2024, with markets eyeing another rate cut.

The article from Business Insider discusses the recent performance of the U.S. stock market, highlighting a significant sell-off influenced by several key factors. Oracle's stock plummeted by 12% after reporting weaker-than-expected earnings and providing a disappointing outlook, which negatively impacted investor sentiment. Alphabet, Google's parent company, also saw its shares drop by 7.5% following a report that Samsung might replace Google with Bing as the default search engine on its devices. This news added to the market's volatility. Additionally, the market was reacting to the latest Consumer Price Index (CPI) data, which showed inflation cooling but still above the Federal Reserve's target, leading to uncertainty about future interest rate decisions. The broader market indices like the S&P 500, Dow Jones Industrial Average, and Nasdaq all experienced declines, reflecting broader concerns about economic growth, corporate earnings, and the ongoing battle against inflation by the Federal Reserve.

Read the Full Business Insider Article at:
[ https://markets.businessinsider.com/news/stocks/stock-market-today-indexes-selloff-oracle-google-cpi-fed-inflation-2024-12 ]