Inflation data giveth, and taketh away. While November's consumer price index (CPI) gave stocks a boost yesterday, November's hotter-than-anticipated producer price index (PPI) set stocks back today. Big Tech ushered the Nasdaq back below 20,000, while the Dow shed 233 points for its sixth-straight loss. The blue-chip index is now mired in its longest losing streak since April. Despite the new data point, CME's Fed Watch tool is still predicting a 95% chance of an interest-rate cut at next week's Federal Reserve meeting.  

GOLD PIVOTS LOWER AMID PROFIT-TAKING

Oil prices finished marginally lower, after the International Energy Agency (IEA) trimmed its global oil-demand growth estimate for this year and labeled the market “comfortably supplied” for 2025. For the session, January-dated West Texas Intermediate (WTI) crude shed 27 cent, or 0.4%, to settle at $70.02 per barrel.

Gold prices succumbed to more profit-taking today, despite the warm inflation data sending the safe-haven asset to a one-month high earlier in the day. For the session, gold for December delivery lost 1.7% to settle at $2,709.70 an ounce.

More By This Author:

Stocks Struggle For Gains After Inflation Report
Nasdaq Topples 20k As Big Tech Bounces Back
Nasdaq Jumps 300 Points To Record Highs