Overview
- Major indexes slipped after Monday’s records, with the Dow down 0.80%, the S&P 500 off 0.19% and the Nasdaq lower by 0.10%.
- December CPI rose 2.7% year over year and core inflation was 2.6%, while monthly readings came in at 0.3% for headline and 0.2% for core.
- Market odds for a Jan. 28 rate cut fell to about 2.8% from roughly 5% the prior day, and the 10-year Treasury yield eased to about 4.17%.
- JPMorgan opened Q4 results with profit of $13.03 billion versus $14.00 billion a year earlier after an extraordinary charge, as financials lagged and energy led sector gains.
- Investors kept an eye on the reported Department of Justice investigation related to Fed Chair Jerome Powell, a factor that has recently influenced sentiment.