{"id":72311,"date":"2023-10-13T15:12:45","date_gmt":"2023-10-13T19:12:45","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/sp-500-slips-as-treasury-yields-regain-momentum-on-stronger-inflation-jobs-data\/"},"modified":"2023-10-13T15:12:48","modified_gmt":"2023-10-13T19:12:48","slug":"sp-500-slips-as-treasury-yields-regain-momentum-on-stronger-inflation-jobs-data","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=72311","title":{"rendered":"S&#038;P 500 slips as Treasury yields regain momentum on stronger inflation, jobs data"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<p><span class=\"text\">\u00a9 Reuters. <\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>Investing.com &#8212; The S&amp;P 500 fell Thursday after giving up gains amid pressure from rising Treasury yields after inflation came in hotter than expected in September and the job market continues to show strength, weighing on hopes that the Federal Reserve was done with rate hikes.<\/p>\n<p>The  fell 0.7%, the\u00a0 fell 0.6%%, 196 points,  fell 0.7%.<\/p>\n<h2>Inflation on the up and up, again; labor market strength continues<\/h2>\n<p>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<p>The core measure, which excludes food and energy and is more closely watched by the Fed, remained steady at a 0.3%, but the &#8220;pace of improvement remains \u201cuncomfortably slow,\u201d Stifel said in a note.<\/p>\n<p>The labor market, meanwhile, continued to surprise to upside as the  were short of the expectations.<\/p>\n<p>\u201cThe claims data do not show any real evidence of a pickup in layoff activity,\u201d Jefferies said in a note.<\/p>\n<p>Still, the odds for rate hike next month remain low at 12%, according to Investing.com\u2019s Fed Rate Monitor Tool.<\/p>\n<p>Treasury yields resumed their advance, with the yield on the\u00a0 Treasury rising above 5%.<\/p>\n<h2>Delta Air Lines flies in better-than-expected Q3 earnings, but cuts annual revenue outlook<\/h2>\n<p>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<p>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<h2>Ford reverse after UAW unexpectedly expands strikes; Stellantis in spotlight<\/h2>\n<p>Ford 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<p>Stellantis (NYSE:), which was down 2%, will hope to avert further strikes at its plants as it held talks with UAW.<\/p>\n<p>&#8220;Here\u2019s to hoping talks at Stellantis today are more productive than Ford (NYSE:) yesterday,&#8221; UAW President Shawn Fain said.<\/p>\n<h2>Birkenstock continues to fall following disappointing stock market debut<\/h2>\n<p>Birkenstock Holding (NYSE:) fell 5.7%, 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<h2>{{0|Disney, Comcast (NASDAQ:) get sale process of Hulu underway}}<\/h2>\n<p>Walt <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Disney <\/span><\/span> (NYSE:) and Comcast 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<p>In 2019, Disney and Comcast stuck a \u201cput\/call\u201d agreement under which either company could trigger a sale or purchase of Comcast&#8217;s 33% stake in Hulu. The deal also set a guaranteed sale price of $27.5 billion for Comcast&#8217;s stake.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/sp-500-slips-as-treasury-yields-regain-momentum-on-stronger-inflation-jobs-data-3197473\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. Investing.com &#8212; The S&amp;P 500 fell Thursday after giving up gains amid pressure from rising Treasury yields after inflation came in hotter than expected in September and the job market continues to show strength, weighing on hopes that the Federal Reserve was done with rate hikes. The fell 0.7%, the\u00a0 fell 0.6%%, 196 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-72311","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>S&amp;P 500 slips as Treasury yields regain momentum on stronger inflation, jobs data | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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