Posted 1/11/2024, 2:46:00 PM
Stocks Open Higher Before Pulling Back on Hot Inflation Data
- Stocks opened higher despite hotter-than-expected inflation data that could shift expectations for Fed rate cuts
- S&P 500 briefly passed previous record high from Jan 2022 before pulling back
- Jobless claims declined again, signaling labor market continues to hold steady
- Stock futures slipped after inflation data showed prices rising 3.4% annually in December
- Global stocks mostly higher ahead of U.S. inflation data; Nikkei 225 crossed 35,000 level for first time since 1990