Stocks End Mixed as Cisco and Walmart Drop on Weak Outlooks; Yields Fall on Cooling Inflation but Economic Concerns
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Wall Street's major averages ended mixed on Thursday, with the Dow falling due to declines in Cisco and Walmart shares.
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Cisco plunged nearly 10% after disappointing guidance, while Walmart slid 8% on weak holiday sales outlook.
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Economic data showed cooling inflation but also signs of economic slowdown, supporting forecasts of no more Fed rate hikes.
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Treasury yields fell across the curve, with the 30-year yield down 7 bps to 4.62% and the 10-year yield down 9 bps to 4.45%.
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While lower inflation is positive, it may be caused by weakening demand, signaling potential economic weakness rather than a soft landing.