import and export prices both fell by more than expected in the month of October, capping off an encouraging week of inflation data.
The Labor Department released a report showing U.S. economic data has added to recent optimism about the outlook for interest rates. Selling pressure has remained relatively subdued, however, as the latest batch of U.S. Networking giant Cisco Systems (CSCO) has also moved sharply lower after reporting fiscal first quarter results that beat estimates but cutting its full-year revenue forecast. Walmart reported better than expected fiscal third quarter results but forecast full-year earnings toward the low end of analyst estimates.
The Nasdaq is down 46.88 points or 0.3 percent at 14,056.95, the S&P 500 is down 7.20 points or 0.2 percent at 4,495.68 and the Dow is down 89.70 points or 0.3 percent at 34,901.51.Ī negative reaction to earnings news from Walmart (WMT) is weighing on Wall Street, with the retail giant plunging by 7.3 percent. In recent trading, the Nasdaq and the S&P 500 have fallen to new lows for the session.
The major averages briefly bounced above the unchanged after seeing initial weakness but have moved back to the downside since then. Stocks are seeing modest weakness during trading on Thursday, giving back ground after moving sharply higher over the past several sessions.
