Signs of a waning Trump-led rally emerged Thursday as investors assessed the economic outlook and awaited potential signals on the interest-rate path from the upcoming Fed Chair Jerome Powell‘s speech in Dallas at 3 p.m. ET.
Inflation data from the past two days provided mixed signals: consumer prices met expectations, while producer prices slightly exceeded forecasts, with both indicators showing a year-over-year uptick in October.
Despite this inflation data, markets remain confident the Fed will continue easing, pricing in an 80% likelihood of a December rate cut.
Wall Street’s major indices were in the red by midday, with the S&P 500 down 0.3% and small-cap stocks lagging behind large-caps.
The U.S. dollar index ticked up 0.1%, even as Treasury yields declined. Bonds outperformed equities, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) climbing 1.2%.
Gold edged 0.2% lower, while oil rose 0.2%. Meanwhile, Bitcoin (CRYPTO: BTC) saw its rally stall, dropping 1.8%.
Thursday’s Performance In Major US Indices, ETFs
| Major Indices | Price | Chg % (1 day) |
| Dow Jones | 43,884.60 | -0.2% |
| Nasdaq 100 | 20,986.66 | -0.2% |
| S&P 500 | 5,969.78 | -0.3% |
| Russell 2000 | 2,345.60 | -1.0% |
According to Benzinga Pro data:
Thursday’s Stock Movers
- Walt Disney Co. (NYSE:DIS) rose 7% after reporting better-than-expected quarterly results.
Other stocks reacting to earnings reports included:
Read now:
Image:
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
