US Stock Market Rebounds After Lower Inflation
The S&P 500 and the Nasdaq turned positive on Thursday as Treasury yields headed lower after data showed consumer prices rose less than expected in September, indicating inflation pressures were easing.
The Consumer Price Index (CPI) increased 0.1 percent last month. The so-called core CPI, which excludes volatile food and energy components, also edged up 0.1 percent. Economists had forecast both the readings to climb 0.2 percent.
U.S. Treasury yields extended their fall after the data, which dented expectations of a more aggressive pace of interest rate hikes by the Federal Reserve.