Stocks ended mixed after an uneven day of trading on Thursday. The Dow fell 194 points to 34,395, the S&P 500 slipped 3 points to 4,076, and the Nasdaq ticked up 14 points to 11,482. All the gains and losses were under 1%. Also Thursday, bond yields fell broadly after the government reported that a measure of inflation that’s closely watched by the Federal Reserve eased in October. Wall Street has been closely watching any updates about inflation to get a better sense of whether the Fed will tone down its aggressive interest rate increases, per the AP.
Salesforce slumped 9.6% for the biggest drop in among S&P 500 stocks after Bret Taylor said he would resign as co-CEO of the customer-management software developer. Chipmaker Nvidia rose 1.7% and drugmaker Pfizer gained 1.6%, while Bank of America fell 2.6% and Marathon Oil dropped 1.6%. A day earlier, markets rallied after Fed Chair Jerome Powell indicated the central bank could dial back the pace of its interest rate increases. Investors will be closely watching Friday's monthly unemployment report from the Labor Department, another factor in how the Fed may act.
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