The S&P 500 Index ($SPX) (SPY) today is up +0.65%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.09%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.38%.

Stock indexes today are mixed, with the Nasdaq 100 posting a new record high and the Dow Jones Industrials falling to a 2-1/2 week low.  The broader market moved higher today after US November consumer prices came in right on expectations, bolstering the outlook for the Fed to cut interest rates by 25 bp at next week’s FOMC meeting.  The chances of a Fed rate cut next week rose to 96% from 86% before the release of the Nov CPI report.

Today’s -5% fall in UnitedHealth Group is weighing on the Dow Jones Industrials as health insurance stocks tumbled after Bloomberg News reported that US lawmakers have drafted legislation that would force the health insurers to divest pharmacies they own. 

US Nov CPI rose +0.3% m/m and +2.7% y/y, right on expectations.  Also, Nov CPI ex-food and energy rose +0.3% m/m and... Read more