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StockCram is not a broker-dealer, investment adviser, or financial institution. All content is for educational and informational purposes only and should not be construed as personalized investment advice. Consult a qualified financial professional before making investment decisions. Past performance does not guarantee future results.Stock Market Today, Oct 15: Hot CPI, Chip Rout
Hotter-than-expected September CPI and a global chip selloff gave Wall Street its worst day since July, while 10-year Treasury yields jumped to 5.30%.
Key Highlights
- •US stocks had their worst day since July on Wednesday, October 14, as a hotter-than-expected inflation report and a tech selloff pushed the S&P 500 down 1.11% to 7,718.94 and the Nasdaq down 1.88% to 26,692.87, while the Dow slipped just 0.09% to 51,621.48.
- •September consumer prices rose 3.7% from a year earlier, above the 3.6% forecast, and traders raised the odds of an October Fed rate hike to 46% from about 20%.
- •South Korea's Kospi fell 7.57% to 5,554.22 on Thursday as Samsung Electronics and SK Hynix dropped about 10% each, which spread the chip rout across Asia and Europe.
- •The 10-year Treasury yield jumped to 5.30% after the inflation report before easing, and the Fed's next decision on October 28 follows its September hike to a 3.75%–4.00% range.
What's Inside
September inflation runs hotter than expected, raising bets on more Fed rate hikes
The Bureau of Labor Statistics said the September Consumer Price Index (CPI) rose 0.6% from August and 3.7% from a year earlier, above the 3.6% yearly rate economists expected and up from 3.4% in August...
Chip stocks lead a global tech rout; Nasdaq sinks 1.9% and Korea's Kospi plunges 7.6%
South Korea's Kospi index closed down 7.57% at 5,554.22 on Thursday after Samsung Electronics and SK Hynix fell roughly 10% each, which triggered a market-wide trading halt...
CoreWeave drops about 15% as AI debt worries grow
CoreWeave, an AI data-center company backed by Nvidia, fell 15.46% on Wednesday as its bond yields climbed...
Treasury yields stay near multi-year highs as traders price in more hikes
The 10-year Treasury yield rose 9 basis points to 5.304% after the CPI report, then fell back as stocks sold off and investors moved into bonds...
Oil stays above $100 as the Iran war keeps energy prices high
Brent crude traded near $108.70 a barrel on Wednesday morning, up 1.31% from a day earlier and about 74% above its level a year ago...
Stock Market Today, Oct 14: CPI Report Due
Stocks were flat Tuesday as Fed's Williams signaled one more hike this year, pulling the 10-year yield to 5.22% before today's CPI inflation report.
Key Highlights
- •The S&P 500 closed at 7,805.45 on Tuesday, down 0.02%, while the Dow slipped 0.35% to 51,670.10 and the Nasdaq fell 0.15% to 27,204.38.
- •Fed's Williams backed one more hike in 2026 but none in 2027, which pushed the 10-year yield down to about 5.22%.
- •Today's September CPI is forecast at 3.6% a year versus 3.4% in August, and the Fed meets October 28.
- •Brent crude sits near $106 a barrel after a Houthi strike on a Saudi Aramco site, and chip stocks like Micron (down 3.62% Monday) are under pressure from China's CXMT.
What's Inside
Fed's Williams Says One More Rate Hike This Year, None Needed in 2027
New York Fed President John Williams said one more rate hike is right for this year...
September Inflation Report Lands Today With Prices Expected to Heat Up
The Bureau of Labor Statistics releases September consumer prices at 8:30 a.m...
Big Banks Report Mixed Third-Quarter Results as Earnings Season Starts
JPMorgan earned $15.3 billion, but its $5.57 per share missed the $5.90 forecast...
Memory Chip Stocks Slide as China's CXMT Claims a Breakthrough
China's CXMT said it has made progress on a denser server memory design...
Houthi Strike Hits Saudi Aramco Site, Keeping Oil Above $100
Saudi Arabia said a Houthi missile caused a small fire at an Aramco building in Dhahran on Tuesday...