US stocks steady after better inflation data

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Wall Street stocks were mixed early Thursday, as investors digest better inflation data a day after a big rally prompted by Federal Reserve comments suggesting moderation ahead in monetary policy.اضافة اعلان

Markets opened in a muted fashion after comments from Fed Chair Jerome Powell lifted major indices by more than two percent.

Investors had good reason to cheer Thursday as well, with the closely-watched personal consumption expenditures price index ebbing somewhat in October.

That data, combined with lower jobless claims, "continues to favor a potentially softer landing for the economy," said analyst Patrick O'Hare.

About 15 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent at 34,508.57.

The broad-based S&P 500 gained 0.3 percent to 4,091.15, while the tech-rich Nasdaq Composite Index advanced 0.5 percent to 11,521.34.

Among individual companies, Salesforce tumbled around 10 percent after some of its business operations took in lower revenues than expected. The software company announced that Bret Taylor would step down as vice chair and co-chief executive.

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