Trump-Led Rally Wanes as Investors Eye Powell Speech, Mixed Inflation Data

Signs of a waning Trump-led rally emerged Thursday as investors assessed the economic outlook and awaited potential signals on the interest-rate path from the upcoming Fed Chair Jerome Powell‘s speech in Dallas at 3 p.m. ET.

Wall Street stocks were mostly lower on Thursday as investors assessed the latest economic data and awaited cues on the interest rate path from upcoming remarks by Fed Chair Jerome Powell.

Consumer prices rose 0.3% last month, in line with economists' expectations, while producer prices increased 0.4%, exceeding forecasts. Both readings showed a year-over-year uptick in October.

Despite the inflation data, markets were largely upbeat about the prospects of the Federal Reserve continuing to ease monetary policy, with traders pricing in an 80% probability of a December rate cut.

Here's a snapshot of Thursday's market performance

Major Indices Wall Street's major indices were in the red by midday, with the S&P 500 down 0.3% and small-cap stocks lagging behind large-caps. The Dow Jones Industrial Average was up 20 points at the time of writing.

U.S. Dollar The U.S. dollar index ticked up 0.1%, even as Treasury yields declined. Bonds outperformed equities, with the iShares 20+ Year Treasury Bond ETF (NYSE:TLT) climbing 1.2%.

Gold, Oil Prices Gold edged 0.2% lower, while oil rose 0.2%. Meanwhile, Bitcoin (CRYPTO:BTC) saw its rally stall, dropping 1.8%.

Top Performers Thursday's Performance In Major US Indices, ETFs According to Benzinga Pro data, Wall Street stocks saw mixed performances on Thursday. Among the top performers were:

Worst Performers Thursday's Stock Movers Several stocks moved notably on Thursday following earnings reports. Here's a glance at a few:

Other notable movers included Applied Materials Inc. (NASDAQ:AMAT), Globant S.A. (NYSE:GLOB), AST SpaceMobile Inc. (NASDAQ:ASTS), and Post Holdings Inc. (NYSE:POST), all of which are slated to report their earnings after Thursday's close.

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