Key Takeaways
- CPI Mixed
- Apple
AAPL
Event Lacks Excitement
- Oil Prices Increasing
An uninspiring Apple event and disappointing earnings from Oracle
ORCL
sent stocks lower Tuesday. The S&P 500 fell 0.6% and the Nasdaq Composite dropped 1%. With a potential autoworker strike looming and today’s Consumer Price Index (CPI) report being stronger than expected, we’ll see if stocks continue to fall. Core CPI (excludes fuel and energy) in August showed prices increased 0.3% on a month-over-month basis, slightly higher than the 0.2% forecast. CPI (including food and energy) increased 0.6%, in line with forecasts. On a year-over-year basis, CPI increased 3.7% vs. expectations of 3.6%.
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