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US Equity Indexes Off Session Highs as Consumer Discretionary Takes a Beating Ahead of August CPI

BY MT Newswires | ECONOMIC | 09/10/25 03:57 PM EDT

03:57 PM EDT, 09/10/2025 (MT Newswires) -- US equity indexes were mixed ahead of Wednesday's close as a sharp decline in consumer discretionary shares -- ahead of consumer price inflation -- offset much of the tech-driven gains.

The Nasdaq Composite fell 0.2% to 21,831.1, after scaling a new peak of 22,000.97 earlier in the session. The S&P 500 traded less than 0.1% higher at 6,518.5, after touching a record 6,555.97 intraday. The Dow Jones Industrial Average declined 0.6% to 45,427.2.

The producer price index fell 0.1% in August, after a downward revised 0.7% increase in July, the Bureau of Labor Statistics reported Wednesday. A Bloomberg-compiled survey forecast a 0.3% gain. Annually, producer prices growth decelerated to 2.6% from 3.1%, lagging analysts' estimate for a 3.3% increase.

On Thursday, BLS data is expected to show the consumer price index increased 0.3% sequentially and 2.9% annually in August, according to a Bloomberg-compiled survey of economists. Consumer discretionary shares led the decliners ahead of the close on Wednesday, while technology and energy paced the gainers.

Most US Treasury yields fell, with the 10-year down 3.2 basis points to 4.04%.

Markets are pricing a 92% probability the Federal Open Market Committee will lower interest rates by 25 basis points on Sept. 17, with the remaining 8% odds in favor of a 50-basis-point cut, according to the CME FedWatch tool. A week ago, the probabilities were 97% and zero, respectively. This means the Fed is all set to restart its easing cycle after remaining on pause for several months.

In company news, Oracle (ORCL) soared 40% ahead of the close, the top performer on the S&P 500, after the technology giant overnight reported higher fiscal Q1 results and announced its contract backlog will likely exceed half a trillion dollars amid strong demand over the coming months.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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