US stocks kicked off Friday’s session slightly lower, with investors anticipating that muted inflation data will do little to change the Federal Reserve’s decision to be more cautious about cutting interest rates next year. Treasuries rallied.
The S&P 500 fell 0.1% and the Nasdaq 100 dropped 0.4%. Bloomberg’s dollar gauge weakened. The US 10-year Treasury yield dropped six basis points to 4.51%.
While the Fed this week scaled back the number of cuts it anticipates next year, the latest data will likely reassure policymakers that the economy is indeed cooling. The central bank’s preferred gauge of inflation was muted in ...