Equities Rise Intraday as Markets Weigh CPI, Jobless Claims Data

02:27 PM EDT, 09/11/2025 (MT Newswires) -- US benchmark equity indexes were higher intraday following the release of consumer inflation and jobless claims data.

The Dow Jones Industrial Average was up 1.4% at 46,104 after midday Thursday, while the S&P 500 rose 0.8% to 6,581.3. The Nasdaq Composite advanced 0.6% to 22,024. On Wednesday, the S&P 500 and the Nasdaq closed at new record-high levels.

Baring communication services, all sectors were in the green intraday Thursday, led by materials and consumer discretionary.

In economic news, US consumer inflation accelerated at the fastest pace in seven months in August, while the annual core rate remained above 3%, official data showed Thursday.

"Inflationary pressures continued to heat up in August, with broad strength in goods and services inflation," TD Economics said. "Goods prices are likely to continue to drift higher over the coming months as businesses increasingly pass-on more of the tariff costs."

Weekly applications for unemployment insurance in the US hit a nearly four-year high, government data showed, adding to signs that have ignited fears about a slowdown in the labor market.

"The totality of the economic data this morning pushes the (Federal Open Market Committee) into an uncomfortable position of going into next week's policy meeting having to defend both sides of the dual mandate," BMO said. "In the end, August CPI inflation was close enough to consensus forecasts to likely allow the Fed to go ahead with a quarter-point rate cut to at least initially respond to a labor market showing increasing signs of distress."

The probability that the FOMC will reduce its benchmark lending rate by 25 basis points next week rose to about 93% Thursday from 91% Wednesday, while the odds of a 50-basis-point cut fell to 7.1% from 8.9%, according to the CME FedWatch tool.

US Treasury yields were mixed intraday, with the 10-year rate dropping 1.3 basis points to 4.02% and the two-year rate little changed at 3.53%.

West Texas Intermediate crude oil was down 1.8% at $62.53 a barrel.

The International Energy Agency lifted its projections for global oil demand growth for 2025, while raising supply forecasts as the Organization of the Petroleum Exporting Countries continues to unwind its output cuts.

Separately, the OPEC maintained its global oil demand projections, saying the world economy remained on course for robust expansion.

In company news, Opendoor Technologies (OPEN) shares surged nearly 68%, while Shopify (SHOP) gained 2.8%. Opendoor (OPEN) has appointed Shopify (SHOP) Chief Operating Officer Kasra Nejatian to join the real-estate tech platform as chief executive, the companies said late Wednesday.

Paramount Skydance (PSKY) is readying a majority cash bid for media and entertainment giant Warner Bros. Discovery (WBD) , The Wall Street Journal reported Thursday, citing unnamed sources. Warner Bros. shares were up 25%, the top gainer on the S&P 500, while Paramount jumped 7.5%.

Netflix (NFLX) shares were down 4.2%, the second-steepest decline on the S&P 500. The streaming giant's chief product officer, Eunice Kim, will depart, with Chief Technology Officer Elizabeth Stone taking over her duties on an interim basis, Bloomberg News reported Wednesday.

Adobe (ADBE) is scheduled to report its latest quarterly financial results after the closing bell Thursday.

Gold was down 0.3% at $3,672 per troy ounce, while silver increased 1.3% to $42.16 per ounce.

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