US Stocks and Bonds Drift Amid Inflation Concerns
US stocks are experiencing a lackluster day following the release of inflation and economic growth data. The S&P 500 dipped 0.1% while the Dow Jones Industrial Average fell by 7 points. Meanwhile, oil prices continue to drop, with Brent crude down 2.4% to $85.17 a barrel.
The Federal Reserve's preferred measure of inflation has remained above 3% since early this year, which is higher than its target. This news may be contributing to the current market volatility.
Investors are also keeping an eye on Nvidia, one of the leading tech companies, as it prepares to release its quarterly earnings report after the market closes today. The company's shares have been volatile in recent months due to concerns about the profitability of artificial intelligence technology.