Wall St Muted as Hot PPI Data Indicates Smaller Rate Cut; Moderna Slumps
Thursday, 12 September 2024, 07:27
Market Overview
On Thursday, Wall St experienced a muted performance, responding to the latest data surrounding producer prices. The hot PPI readings have essentially kept a smaller 25-basis point interest rate cut firmly on the table for the Federal Reserve.
Impact on Moderna
Alongside the broader market, Moderna has seen a significant slump, contributing to the cautious atmosphere permeating the trading floor.
Key Takeaways
- Strong PPI data may influence future Federal Reserve decisions.
- Investors are keenly watching interest rate cuts.
- Moderna's decline raises concerns about market stability.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.