S&P 500, Nasdaq wobble amid more signs of cooling inflation

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  Thursday, September 12, 2024 at 16:08 GMT+2

  Delta issues strong outlook despite summer tech glitches

  Shares of Delta ( DAL ) jumped before slipping into negative territory on Thursday after the airline said full-year profit would come in at the midpoint of its previously forecast range despite a computer error earlier this summer.

  The airline sees full-year adjusted earnings per share of $6.50 or above $6.50, compared with a previous reading of $6 to $7, excluding the impact of a worldwide technology outage in July.

  Delta shares fell nearly 2 percent in early trading.

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  Thursday, September 12, 2024 at 15:32 GMT+2

  Inventories hold on lower inflation data, higher than expected, jobless claims

  Stocks were little changed on Thursday as investors digested a new batch of data that could provide clues about how much of a rate cut the Federal Reserve will decide to implement at its policy meeting this month.

  The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) were flat, coming off strong closing gains fueled by a tech rally. The Dow Jones Industrial Average (^DJI) was also little changed.

  As for inflation data, the producer price index rose 0.2 percent in August from a month earlier, slightly more than economists had expected. Meanwhile, July’s PPI reading was revised down. Year-on-year, wholesale prices rose 1.7%, in line with expectations.

  Initial weekly jobless claims rose 2,000 to 230,000, more than economists had anticipated.

  Investors are paying close attention to these data as the Federal Reserve prepares to meet next week. Markets had widely anticipated a rate cut. What is not known is how big that cut will be.