U.S. stocks wobbled at Thursday’s open as December trading commenced, despite signs of easing inflation and signals of a slower pace and magnitude of rate increases as soon as this month.
The S&P 500 rose 0.2%, while the Dow Jones Industrial Average slipped 0.3%. The technology-heavy Nasdaq Composite gained 0.4%. In other pockets of the market, the U.S. dollar index retreated to a three-month low, and U.S. Treasury yields held steady after sharp declines.
The core personal consumption expenditures price index (PCE) — an inflation measure closely watched by the Federal Reserve — rose 0.2% in October, less than expected.
Meanwhile, filings for unemployment insurance fell last week, holding near historic lows. Initial jobless claims, the most timely snapshot of the labor market, came in at 225,000 for the week ended Nov. 26, a decrease of 16,000 from the previous week’s revised level, Labor Department figures showed Thursday.
The moves Thursday follow bursts across the major averages…