US stocks experienced a mixed day, with the Nasdaq Composite falling over 100 points. While some sectors like real estate showed gains, tech lagged. Key economic indicators, including jobless claims and PCE price index, offered a mixed picture of the US economy.
The Federal Reserve’s favored inflation measure, the PCE price index, accelerated in September, raising concerns about the likelihood of back-to-back interest rate cuts in the upcoming months. While a 25-basis-point rate cut at the next Fed meeting is widely expected, the stronger-than-expected core PCE inflation could impact expectations for a December cut.
