Thursday September 14, 2017
10:01 PM GMT+8

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People walk by New York Stock Exchange in the financial district in New York, US, August 10, 2017. — Reuters picPeople walk by New York Stock Exchange in the financial district in New York, US, August 10, 2017. — Reuters picNEW YORK, Sept 14 — Wall Street stocks pulled back from records early today after US data pointed to higher consumer prices and a tighter labour market.

The Consumer Price Index, which tracks the cost of household goods and services, jumped 0.4 per cent in August, its biggest increase since January and a tenth of a point higher than the consensus forecast.

Meanwhile, new US jobless claims fell to 284,000, seasonally adjusted, far below the an analyst forecast for 310,000.

US stocks futures dipped on the data, which analysts said boosted expectations the Federal Reserve could hike interest rates one more time in 2017.

About 15 minutes into trading, the Dow Jones Industrial Average was at 22,148.91, down less than 0.1 per cent.

The broad-based S&P 500 shed 0.2 per cent to 2,492.33, while the tech-rich Nasdaq Composite fell 0.5 per cent to 6,429.26.

All three major indices finished at records Tuesday and Wednesday.

Tenet Healthcare rose 2.9 per cent after the Wall Street Journal reported the hospital company was exploring a possible sale.

Lattice Semiconductor fell 2.5 per cent after the Trump administration blocked a proposed takeover of the Oregon company by Chinese-owned Canyon Bridge Fund on national security grounds. — AFP

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