Ahead of the much-anticipated CPI number on Thursday, the bulls and bears were at a stalemate. During the premarket and intraday rally, bulls came up well shy of Tuesday’s high. The retreat off the opening of the regular session found support just ahead of Tuesday’s low.
Most of the session was spent zig-zagging around 3600. However, investors made it obvious how they are leaning toward the market ahead of the CPI report, as the index attempted to make a new low for the session.
The end result was the lowest close since November 2020 as the index declined 10.75 handles to close at 3588.50.
Amazon.com Inc. (NASDAQ: AMZN) was the biggest winner of the top components of the index. For the session, the issue advanced by $0.69 or 0.6% to close at $112.90.
That was just over 1% better than the cash index’s decline of 0.30%.
Berkshire Hathaway Class B (NYSE: BRK.B) was the biggest loser of the top components of the index. For the session, the issue declined by $3.30 or 1.2% to close at $264.
PreMarket Prep Stock Of The Day: Moderna Inc. (NASDAQ: MRNA)
Moderna has had its best day since early August following two positive announcements. However, it gave back the lion’s share of the intraday gains and closed just off the lows for the session. Read more on MRNA here.