Market Recap – October 10th
On Wednesday’s trading day, markets continued their attempt to retrace last week’s major losses as investors gear up for consumer-side inflation data coming later this week. With wholesale inflation rising 0.5% over the estimated 0.3%, there is a chance this can funnel into October’s CPI report which won’t be released before the Federal Reserve makes its next interest rate decision. For the main indices, the S&P 500 rose 0.43%, the NASDAQ Composite went up 0.71%, and the Dow Jones grew 0.19%. Two individual stocks to show accelerated gains outside of the indices were Plug Power and Novo Nordisk. Shares of Danish drugmaker Novo Nordisk rose 6.27% at the bell following signs of success over Ozempic’s kidney disease treatment trial. Battery company Plug Power had its stock soar 5.31% after a regulatory filing revealed an increase in forecasted 2027 revenues to $6 billion.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.