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CPI Exceeds Expectations, Market Sentiment Holds Steady

Following yesterday's hotter-than-expected CPI print, wholesale PPI inflation also came in well above expectations, and yet investor sentiment is holding up well as market fears shift away from concerns over a "rate shock" due to tighter monetary policy and toward a "growth scare" as the AI buildout pillar of the economy is looking more wobbly.    After opening lower, the S&P 500 and Nasdaq Composite both eked out gains by the close, while the less-Tech-concentrated Dow jumped over 1%.In Technology, traders continued to sell semiconductors, communication equipment, and computer hardware in droves, but the proceeds were rotated into "anti-AI" areas of the market such as Enterprise Software and IT Services.  The worst performing sector in the S&P 500 this year - Consumer Cyclicals - was one of the best sectors today as traders bid up heavily-sold names like Lululemonand Nike, both of which were up 5%.In fixed income, rotation from corporates amid Coreweavedebt scare into the safety of the Treasuries  - where the yield on the 10-year note dropped another 10 basis points despite the hot inflation prints - also benefited the heavily sold rate-sensitive market areas such as REITs and Homebuilders.   Names like Lennar, which had just marked a four-year low overnight, jumped 6% on Thursday, while its peers DR Hortonand KB Homewere bid up by over 4%.Sentiment remains fragile in the opening hour of the evening session. S&P e-minis are down 0.1% and the Nasdaq 100 contract is off by 0.3%.  Futures traders will look to the AI-overindexed Korea's Kospi for direction while also monitoring the testimony of Fed Chair Kevin Warsh at the IMF summit in Bangkok this evening.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Independent Bankup 2.5%Cohen & Steersup 1.9%Alcoaup 1.1%Wise Groupup 1.0%ALSO HIGHER -Semtechup 2.1% after positive Q3 pre-announcementDOWN AFTER EARNINGS -J.B. Hunt Transport Servicesdown 2.3%First Financial Banksharesdown 1.4%Interactive Brokersdown 0.6%ALSO LOWER -MDxHealth SAdown 7.4% after Q3 pre-announcement

Stock Futures Mixed as Oil Prices Near $100

Stock futures are mixed as oil prices fluctuate near $100 per barrel amid uncertainty over the U.S.-Iran conflict, with investors balancing supply risks against renewed diplomatic contacts after President Trump said the two sides had held talks at the UN General Assembly.In pre-market trading, S&P 500 futures were up 0.04%, Nasdaq 100 futures rose 0.33% and Dow futures fell 0.38%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -IonQup 11% after the company said it successfully tested the first real-time quantum error decoderMicrosoftup 1% after Stifel upgraded the stock to Buy on revenue growth and focused expense managementMcDonald'sup 1% after announcing plans to spend on restaurant upgrades and trainingSix Flagsup 2% after Jana Partners urged the company to explore a saleUP AFTER EARNINGS -Worthingtonup 16%Cracker Barrelup 7%General Millsup 1%Paychexup 2%DOWN AFTER EARNINGS -KB Homedown 3%LOWER -Voyager Technologiesdown 8% after offering to sell $350M in convertible senior notes due 2032

Dow Falls, Nasdaq Hits New Record Highs

Major indices had a mixed day, with the Dow Industrials falling, the Nasdaq rising to new record highs, and the S&P 500 ending the day flat as oil prices eased for the sixth consecutive session.  Iran reportedly offered to reopen the Strait of Hormuz within seven days, while Saudi Arabia is also reportedly planning to resume its East-West pipeline as soon as this week, keeping WTI Crude Oil contained below $90 per barrel.   The Energy sector was once again one of the bigger decliners, though the most pronounced amount of selling was in Financials, where flatter yield-curve pressure and a new AI-disruption narrative weighed on sentiment.  Tech was mixed as well with outsized gains in Memory and Semiconductor stocks balanced by losses in SaaS names.  Micron, Sandisk, and Monolithic Powerwere the best-performing stocks within the tech sector in the benchmark.   In the opening hour of the evening session, index futures are little changed.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Worthington Enterprisesup 16.2%ALSO HIGHER -IonQup 10.7% after demonstrating end-to-end real-time quantum error decoderSpire Globalup 1.6% after $33.2M NOAA contractMicrosoftup 0.3% after being upgraded to Buy at StifelDOWN AFTER EARNINGS -KB Homedown 1.9%ALSO LOWER -InnovAgedown 11.1% after offering common stockZenta Group Company Limiteddown 7.5% after mixed shelf offeringVoyager Technologiesdown 6.7% after offering $350M in convertible senior notes