That biggest bit of news keeping stocks down today has to do with inflation. The latest producer price index report from the Labor Department showed that wholesale prices increased by 0.6% from January to February.
This is worth highlighting as it could mean additional actions from the Federal Reserve to combat inflation. That’s double true considering this is the second hot inflation report the market has seen this week.
That’s not a good sign for investors who were hoping the Fed would consider reducing interest rates at its meeting next week. It also shows that inflation could continue to be a problem for the economy throughout 2024.
That news is keeping the stock market down today with all of the major indices affected. Let’s check that out below!
Stocks Down Today: Major Indices Fall
- The S&P 500 starts us off on Thursday with a .14% decrease as of this writing.
- Next we have the Dow Jones Industrial Average with an .11% drop as of Thursday morning.
- Closing us out is the NASDAQ Composite, which has managed to remain up .1% despite the news.
Investors looking for more of the latest stock market stories are in luck!
We have all of the hottest market news worth reading about on Thursday! A few examples include why shares of Nvidia (NASDAQ:NVDA), Enviva (NYSE:EVA) and Grayscale Bitcoin Trust (NYSEARCA:GBTC) stock today. All of that news is good to go at the links below!
More Stock Market News for Thursday
- Wedbush Just Raised Its Nvidia (NVDA) Stock Price Target
- EVA Stock Alert: Enviva Files for Ch. 11 Bankruptcy
- Grayscale Bitcoin ETF News: 5 Things to Know About the New €˜Mini' BTC Fund
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.