Wall Street opens mixed after revised inflation data

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PARIS (Reuters) – American stock markets opened hesitantly on Friday on Wall Street after CPI inflation figures revised downward for December, but the S&P 500 hit a record.

In early trading, the Dow Jones index lost 16.62 points, or 0.04% to 38,709.71 points and the broader Standard & Poor’s 500 rose 0.14% to 5,004.62 points. The Nasdaq Composite takes 0.37% or 58.25 points, to 15,851.963.

CPI inflation figures for December were revised slightly down to 0.2% month-on-month from 0.3% in preliminary reading, a much weaker revision than last year, which triggered a movement of concern in the markets.

Investors are nevertheless keeping in mind the latest comments from monetary policy makers, who insisted that the Federal Reserve would not cut rates until it was certain that inflation was returning to target.

The S&P 500 continues its rise after exceeding 5,000 points for the first time on Thursday, supported by several good results and market optimism around artificial intelligence.

In terms of values, PepsiCo lost 4.4% after publishing fourth-quarter sales lower than analysts’ expectations.

Pinterest fell 9.8% after announcing it expected first-quarter revenues below consensus.

(Written by Corentin Chappron, edited by Kate Entringer)


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