U.S. stocks opened on Tuesday with a mixed performance as investors assessed the latest inflation reading, which closely aligned with economists' forecasts. At the opening bell, the Dow Jones Industrial Average (DJIA) saw a slight increase of less than 0.1%. Meanwhile, the S&P 500 (SPX) slipped 0.2% and the Nasdaq Composite (COMP) fell 0.1%, according to FactSet data.
Inflation Meets Economists' Projections
The Bureau of Labor Statistics reported on Tuesday that inflation, as measured by the consumer-price index, rose 0.1% in November, resulting in a year-over-year rate of 3.1%. This aligns with economists' predictions for the month. Prior to the announcement, economists surveyed by the Wall Street Journal had foreseen that inflation would remain unchanged in November, maintaining an annual pace of 3.1%.
Core Inflation Steady
Excluding energy and food prices, core inflation rose by 0.3% last month, contributing to a 4% increase over the 12-month period through November. This figure is in line with economists' expectations and indicates stable core inflation.
Bond Market Update
In the bond market, the yield on the 10-year Treasury note (TMUBMUSD10Y) ticked up one basis point to approximately 4.24%, according to FactSet data.
Stay tuned for further updates and analysis as the market continues to evolve.
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