by Sinéad Carew and Lisa Pauline Mattackal

(Reuters) – The New York Stock Exchange ended lower on Thursday after the publication of data showing inflation higher than expected while the number of jobless claims in the United States increased, fueling questions about the economy American and monetary policy.

The Dow Jones index fell 0.14%, or 57.88 points, to 42,454.12 points.

The broader S&P-500 lost 11.99 points, or 0.21%, to 5,780.05 points.

The Nasdaq Composite fell 9.57 points (0.05%) to 18,282.05 points.

Highly anticipated, the consumer price index in the United States increased in September by 0.2% monthly and by 2.4% over one year, according to a report published during the day, increases a little more important than anticipated by economists.

Separate data showed weekly U.S. jobless claims rose to 258,000, compared with a consensus of 230,000. “Investors have been hesitant, between higher-than-expected consumer prices and worse-than-expected unemployment data,” commented Jack Ablin, chief investment officer of Cresset Capital in Chicago.

On the one hand, he said, “we see inflation higher than expected,” and on the other, “the economy appears weaker than we thought.” “It’s the worst situation,” he added.

Following the release of the data, traders rated the likelihood that the Federal Reserve (Fed) would cut rates by 25 basis points in November at around 80%, according to FedWatch. The assumption that the US central bank leaves its rates unchanged is estimated at around 20%.

Atlanta Fed President Raphael Bostic said during the day that he would be “completely comfortable” with keeping rates at their current level at the institution’s next meeting. Citing inflation and employment data, he added that not cutting rates in November might be the best solution.

For his part, Chicago Fed President Austan Goolsbee said he anticipated “gradual” rate cuts over the next 12 to 18 months.

Wall Street is now preparing for the quarterly results season, with the big American banks kicking off on Friday. According to LSEG data, the quarterly results of S&P-500 companies are expected to increase by 5% year-on-year.

Benefiting from rising oil prices, amid concerns about Hurricane Milton making landfall in Florida and the escalation of conflict in the Middle East, the energy sector was the best performer during the session. Eight of the eleven major sectors of the S&P-500 declined.

On the value side, note the 1% decline in Delta Air Lines, which said it expected quarterly turnover lower than expected, with a slowdown in travel. Other airlines, such as American Airlines, have also declined.

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(Written by Jean Terzian)

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