Minimal Market Movement in Stocks, Crypto, and Gold Following CPI Data
The latest CPI report from the U.S. Bureau of Labor Statistics shows inflation cooling to 2.5% in August, the slowest rate since 2021.
Core CPI, excluding food and energy, rose by 0.3% for the month. Following the release, stock indices showed minimal movement: the Nasdaq edged up, the S&P 500 saw slight gains, while the Dow and Russell 2000 experienced minor declines.
Bitcoin and Ethereum also had little change, with Bitcoin trading around $56,446 and Ethereum at $2,318. Precious metals exhibited mixed results: gold fell by 0.4% to $2,510 per ounce, while silver gained 0.57%. The CPI data suggests a potential rate cut by the Federal Reserve on September 18, with an 83% chance of a 25 basis points reduction.
Clever Robot News Desk 13th September 2024
