The stock market experienced a drop on Thursday due to higher-than-expected inflation data. Tesla was in the spotlight as it was set to unveil its robotaxi on Thursday night. The Dow Jones futures fell 0.3%, while the S&P 500 and Nasdaq 100 futures also dropped.
In other news, the 10-year Treasury yield rose to 4.07%, and oil prices went up with West Texas Intermediate futures trading around $74.10 per barrel. Exchange-traded funds like QQQ and SPY saw declines as well.
The Labor Department reported that the CPI rose 0.2% in September, with an annual increase of 2.4%, exceeding expectations. Initial unemployment claims also rose higher than expected. Delta Air Lines saw a 3% decline after reporting mixed third-quarter earnings.
Stocks like Amgen, Arista Networks, Ryan Specialty, and Texas Roadhouse were among those to watch in the stock market. Indices like IBD 50, Big Cap 20, and Stocks Near A Buy Zone provided insights into potential investment opportunities.
Companies like Alphabet, Meta Platforms, and Nvidia were trading slightly lower on Thursday, while Amazon, Apple, and Microsoft were trying to regain their positions on the Dow Jones index. Investors were advised to stay up to date with the market trend and key buy points and sell signals.
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