Stocks open lower following inflation data
Stocks are down following a report out this morning showing that December inflation was all but nonexistent and prior to the long weekend.
In the first 15 minutes of trading, the Dow is down one-quarter of 1 percent.
The broader S&P 500 is three-tenths of 1 percent and the tech-heavy Nasdaq is down one-quarter of 1 percent.
The Consumer Price Index, the amount of inflation felt by consumers, ticked up only 0.1 percent in December, and for all of 2009, it rose only 2.7 percent.
The bump up in inflation was even less than expected. Forecasters predicted inflation in December would rise 0.2 percent.
The slow opening on Wall Street may be partly attributable to traders taking profits before a long weekend.
-- Frank Ahrens
Follow me on Twitter at @theticker
By
Frank Ahrens
|
January 15, 2010; 9:55 AM ET
Categories:
The Ticker
,
Wall Street
| Tags: Dow Jones, inflation, nasdaq, s&p 500
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