Markets World

Stocks fall slightly as investors await key inflation data

Stocks were modestly lower this Thursday as investors monitored the health of the economy ahead of a key inflation report.

The Dow Jones Industrial Average fell 175 points, or 0.5%. The S&P 500 dipped 0.5%, and the Nasdaq Composite shed 0.6%. Investors have been assessing the health of the U.S. economy, with a key inflation report due out on Friday.

The Federal Reserve has started hiking rates in an attempt to cool inflation without tipping the economic into recession. Higher energy prices and continued supply chain disruptions have kept inflation persistently high in recent months, while some economic data has shown slowing growth in recent weeks.

Oil prices dipped slightly on Thursday, but U.S. West Texas Intermediate crude still held above $120 per barrel. Initial jobless claims rose to 229,000 last week, worse than the 210,000 expected.

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