Stocks are down on Thursday, but it’s not due to any negative news that’s affecting the market today.
Instead, it looks like stocks are simply taking a break from recent rallies that have sent shares higher. Those rallies came about after the October Consumer Price Index () was released earlier this week.
The data in the October CPI report showed that inflation was cooling down. That saw those numbers come in below experts’ expectations. That’s a positive sign for the stock market and has experts believing the Federal Reserve won’t plan for any interest rate increases in the near term.
The Fed has been attempting to curb inflation over the last year with a series of interest rate increases. That’s been weighing on the stock market as well. While it doesn’t seem like any interest rate drops will be happening anytime soon, investors are still celebrating the pause on increases.
Let’s check out how the major stock indices are faring today below!
Stocks Down Today: Major Indices Movements Mixed
- Starting us off is the S&P 500 and its 0.09% increase as of Thursday morning.
- On the flip side of that is the Dow Jones Industrial Average and its 0.11% decrease today.
- Closing us out is the NASDAQ Composite, with its slight increase of 0.3% as of this morning.
Investors who want to catch up on all of the latest stock market news today are in luck!
We have all of the hottest stock market stories that traders need to know about on Thursday! A few examples include what’s going on with shares of Ault Alliance (NYSEMKT:AULT), Ethereum (ETH-USD) and Alibaba (NYSE:BABA) stock today. You can learn more on these matters by checking out the links below!
More Stock Market News for Thursday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
Article printed from InvestorPlace Media, https://investorplace.com/2023/11/why-are-stocks-down-today-nov-16th/.
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