{"id":72168,"date":"2023-10-13T07:47:14","date_gmt":"2023-10-13T11:47:14","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/stock-market-today-dow-falls-as-rising-yields-return-to-put-squeeze-on-stocks\/"},"modified":"2023-10-13T07:47:17","modified_gmt":"2023-10-13T11:47:17","slug":"stock-market-today-dow-falls-as-rising-yields-return-to-put-squeeze-on-stocks","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=72168","title":{"rendered":"Stock Market Today: Dow falls as rising yields return to put squeeze on stocks"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

Investing.com — The Dow cut intraday cuts to close lower Thursday as rising Treasury yields pierced through early-day optimism following inflation data that surprised to the upside and signs of ongoing strength in the labor market.\u00a0\u00a0<\/p>\n

The fell 0.6%%, 173 points, fell 0.6%, and the\u00a0 slipped 0.6%,<\/p>\n

Inflation on the up and up, again; labor market strength continues<\/h2>\n

The is expected to have rose to 0.4% in September, taking the annual rate to 3.7%, slightly above expectations for a 0.3% and 3.6% rise respectively.<\/p>\n

The core measure, which excludes food and energy and is more closely watched by the Fed, remained steady at a 0.3%, but the “pace of improvement remains \u201cuncomfortably slow,\u201d Stifel said in a note.<\/p>\n

The labor market, meanwhile, continued to surprise to upside as the were short of the expectations.<\/p>\n

\u201cThe claims data do not show any real evidence of a pickup in layoff activity,\u201d Jefferies said in a note.<\/p>\n

Still, the odds for rate hike next month remain low at 12%, according to Investing.com\u2019s Fed Rate Monitor Tool.<\/p>\n

Treasury yields resumed their advance, with the yield on the\u00a0 Treasury rising above 5%.<\/p>\n

Delta Air Lines flies in better-than-expected Q3 earnings, but cuts annual revenue outlook; Walgreens jumps on earnings<\/h2>\n

Delta Air Lines Inc (NYSE:) reported third-quarter results that topped analysts estimates, but airline cut its full-year revenue outlook, sending its shares more than 2% lower.<\/p>\n

For the full year, Delta Air Lines said it expects $6.00 to $6.25 in EPS, down from a prior estimate for EPS of $6 to $7. The company attributed the weaker guidance to a rise in fuel costs. \u00a0<\/p>\n

Ford reverse after UAW unexpectedly expands strikes; Stellantis in spotlight<\/h2>\n

Ford Motor Company (NYSE:) fell 2% as the automaker is set to see further disruptions at its plants after United Auto Workers Union called a surprise strike at Ford\u2019s most profitable plant in Kentucky on Wednesday.\u00a0<\/p>\n

Stellantis (NYSE:), which was down 2%, will hope to avert further strikes at its plants as it held talks with UAW.<\/p>\n

“Here\u2019s to hoping talks at Stellantis today are more productive than Ford (NYSE:) yesterday,” UAW President Shawn Fain said.<\/p>\n

Birkenstock continues to fall following disappointing stock market debut<\/h2>\n

Birkenstock Holding (NYSE:) fell 6.6%, adding to the 12% slump on Wednesday, when the German sandal maker made an underwhelming public market debut, ending the day below its $46 initial public offering price.<\/p>\n

Disney, Comcast get sale process of Hulu underway}}<\/h2>\n

Walt Disney <\/span><\/span> (NYSE:) and Comcast (NASDAQ:) have hired investment banks Morgan Stanley and JPMorgan, respectively, to value streaming site Hulu as the Nov. 1 deadline that will force Disney to buy the remaining 33% stake in Hulu from Comcast.\u00a0 \u00a0<\/p>\n

In 2019, Disney and Comcast stuck a \u201cput\/call\u201d agreement under which either company could trigger a sale or purchase of Comcast’s 33% stake in Hulu. The deal also set a guaranteed sale price of $27.5 billion for Comcast’s stake.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Investing.com — The Dow cut intraday cuts to close lower Thursday as rising Treasury yields pierced through early-day optimism following inflation data that surprised to the upside and signs of ongoing strength in the labor market.\u00a0\u00a0 The fell 0.6%%, 173 points, fell 0.6%, and the\u00a0 slipped 0.6%, Inflation on the up and up, […]<\/p>\n","protected":false},"author":1,"featured_media":47908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-72168","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nStock Market Today: Dow falls as rising yields return to put squeeze on stocks | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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