The market in 3 minutesUS close · Wed, Oct 7

Stocks Slip on Luxury Spending Pullback, Tech Mixed

WhyEquities declined modestly as credit card data revealed a 6% year-over-year drop in luxury brand purchases during September, signaling wealthy Americans are pulling back ahead of the midterm elections.

What moved
  • S&P 500 and Nasdaq each fell 0.22%; Dow dropped 0.66%; Russell 2000 down 1.31%
  • Microsoft (MSFT) and NVIDIA (NVDA) unveiled AI laptop running models on-device rather than cloud
  • 10-year Treasury yield eased while dollar index gained 0.44%
  • Fear & Greed index at 71, still in Greed territory but cautious
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CPI inflation · Wed, Oct 14 · 8:30 AM ET

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