Wall Street closed in the red after September inflation data came in worse than expected

Wall Street closed in the red this Thursday. Dow Jones industry, its main indicator, fell 0.14% to 42,454 points.weighed down by September inflation figures that were worse than analysts had expected. At the closing of the trading floor in New York The selective S&P 500 index fell 0.21%.up to 5780 units and technological Nasdaq fell 0.05%up to 18,282 integers.

He consumer price index US (CPI) fell by one-tenth in September, while 2.4% annualizedThis is the lowest inflation data since February 2021, but the index for the month was 0.3%, which is higher than expected. Both indices are known after the first rate cut interest rate announced by the Federal Reserve System (Fed) three weeks ago.

The US Bureau of Labor Statistics (BLS) also reported today that consumer prices in September they increased by two tenths compared to August. The numbers disappointed the stock market, as Dow Jones analysts had expected monthly growth of 0.1% and annual growth of 2.3%.

After the data was released, Atlanta Federal Reserve President Raphael Bostic told the Wall Street Journal that he agreed with no further rate cuts in November.

Falling expectations of another rate cut have caused many investors sell small and mid cap securities today“which are a little more sensitive to interest rates,” Luke O’Neill, a portfolio manager at CooksonPeirce, told CNBC today.

By sector, Losses predominated, led by real estate (-0.89%) and communications (-0.61%), and the largest increase was recorded in energy (0.79%) and raw materials (0.21%). In the Dow 30 United Health grew the most. (1.1%) and Amazon (0.8%), while those that closed in the red included Boeing (-1.84%) and Home Depot (-1.47%).

For my part, Texas crude oil closed up 3.6%to $75.85 per barrel due to escalating tensions between Israel and Iran. In other markets gold rose 0.79%to 2646 per ounce, 10-year bonds rose 4.069%, and the euro exchanged for $1.0936.