[Breaking] New York Stock Market Slightly Lower as CPI Digesting... Treasury Yields Rise
The three major indices of the U.S. New York stock market closed slightly lower on the 12th (local time), as investors monitored the September Consumer Price Index (CPI) and geopolitical risks stemming from the Middle East.
On that day, the Dow Jones Industrial Average closed down 0.51% compared to the previous session. The S&P 500, which focuses on large-cap stocks, fell 0.62%, while the tech-heavy Nasdaq index dropped 0.63%.
In the New York bond market, Treasury yields rose as the CPI data was digested. The benchmark 10-year U.S. Treasury yield surpassed the 4.7% level again.
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The released September CPI increase slightly exceeded market expectations due to strong housing costs and gasoline prices. However, the core CPI, which excludes the volatile energy and food sectors, continued to show a slowing trend.
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