The S&P 500 Index ($SPX) (SPY) Wednesday closed down -0.27%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.50%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.12%. March E-mini S&P futures (ESH25) are down by -0.29%, and March E-mini Nasdaq futures (NQH25) are up by +0.16%.
Stock indexes on Wednesday settled mixed, with the S&P 500 and Dow Jones Industrials falling to 1-week lows. Stocks were under pressure on Wednesday after bond yields surged when US Jan consumer prices rose more than expected. Wednesday’s stronger-than-expected Jan CPI report dampens the outlook for the Fed to cut interest rates and bolsters expectations for the Fed to keep rates on hold for the foreseeable future. On Wednesday, the rally in chip stocks helped stock indexes recover from their worst levels and pushed the Nasdaq 100 into positive territory.
