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NEW YORK – Stocks opened lower Tuesday as Treasury yields rose after the government’s October inflation report, cutting into Monday’s rally.
The Dow Jones Industrial Average was down 0.47% at 52,144.30 in a quote stamped 9:48am Eastern. The S&P 500 was down 0.58% at 7,506.25 at 9:48am, while the Nasdaq Composite was down 0.70% at 25,076.221 at 9:48am.
The 10-year Treasury yield stood at 4.988% at 9:48am, up from the previous close of 4.862%. These are early-session snapshots, not closing prices.
The Bureau of Labor Statistics reported that consumer prices rose 0.4% in October from September, slowing from September’s 0.6% increase. Core prices, excluding food and energy, rose 0.3% for a third consecutive month. The figures were covered in JBizNews’ report on the release.
BLS said it could not publish October 12-month changes for indexes whose October 2025 observations were unavailable because of last year’s lapse in appropriations. That limits year-over-year comparisons; it does not mean that all individual CPI series lack annual figures.
Before the release, Federal Reserve Governor Christopher Waller said he favored at least a quarter-point December rate increase and would consider a half-point move if core inflation stayed at 0.3% or higher. As JBizNews reported earlier, the October reading met his stated threshold for considering the larger move. His remarks were conditional and preceded the data, not a post-release reaction or a decision by the full Federal Open Market Committee.
Chip shares were mixed as the market pulled back. In the Nasdaq exchange’s 9:49am quote, Nvidia traded at $170.46, down 4.60%. Advanced Micro Devices was up 1.40% at $515.71 in its 9:49am quote. AMD’s move had turned positive rather than remaining near flat.
Nvidia’s board said Sunday that it was initiating an independent investigation following reporting that chief executive Jensen Huang had been the target of a foreign intelligence effort. Independent directors and outside counsel will oversee the review.
The board said it had no reason to believe national security or Nvidia secrets had been compromised, expressed confidence in Huang and his leadership team, and said he supported and would cooperate with the review. The announcement is an investigation, not a finding of wrongdoing.
What it means for you: The inflation report showed slower monthly headline price growth, but core inflation remained at 0.3%. The rise in Treasury yields is worth watching alongside borrowing costs. Early stock moves can change quickly, so the levels above should be read with their individual timestamps.
JBizNews Desk | Wall Street
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