STOCKS STUNNED

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Stock Market News, Nov. 13, 2023: Dow Finishes Higher, Indexes Mixed Ahead of CPI Report

Boeing shares advance; Oil edges upward

Nov. 13, 2023 at 7:39 PM EST

Markets wavered Monday, with the major indexes finishing mixed ahead of tomorrow's inflation data. Read the day's full markets roundup here.

Stocks opened lower, then recovered a bit. Treasury yields rose in early trading, then also reversed. Stocks were coming off a two-week rally during which the S&P 500 rose in nine of 10 sessions.

This week’s big markets event: Tuesday’s inflation reading, which is expected to show U.S. consumer-price growth slowed last month. Retail-sales data out Wednesday will shape GDP forecasts. Presidents Biden and Xi are gearing up to meet in San Francisco.

As of Monday's close:

Stocks had a quiet day. The Dow Jones Industrial Average added 55 points, or about 0.2%. The Nasdaq Composite fell 0.2%, while the S&P 500 was little changed. The Dow got some help from Boeing, which rose 4%.

Investors are positioning for a year-end rally, options-market data suggests, after the Federal Reserve hinted it probably won’t raise interest rates again in 2023.

Nvidia rose, logging a ninth straight daily advance, though an index of chip stocks moved lower.

Treasury yields ticked higher. The 10-year yield settled at at 4.631%, up slightly from 4.627% late Friday. Yields edged up late Friday after Moody’s Investors Service cut its outlook for the U.S. government’s credit rating to negative. Many investors have cited swelling deficits as a worry of late.

Oil prices wavered, with U.S. crude settling up 1.4% at just above $78 a barrel. Weakening demand has pulled down crude prices recently, helping damp inflation.

Overseas markets finished mixed. Travel-and-leisure stocks boosted the Stoxx Europe 600. Japanese and mainland Chinese indexes were little changed.

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