October 31, 2024

Stocks Are Falling. Tech Earnings Outweigh Latest Inflation News.

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The stock market opened lower Thursday after the latest economic data wasn’t enough to grab investors’ attention away from Big Tech earnings.

The Dow Jones Industrial Average dropped 0.5%, while the S&P 500 was down 0.9% and the Nasdaq Composite was losing 1.2%.

The personal consumption expenditures index, the Federal Reserve’s preferred gauge of inflation, rose 2.1% year over year in September, down from August’s 2.3% result and in line with estimates.

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