© Reuters
Investing.com — Canada’s main stock index, the S&P/TSX Composite, and U.S. stocks traded in the red shortly after the open, as investors digested a fall in core inflation in December. Headline consumer prices came in hotter than expected, further pushing out market expectations of rate cuts from the Fed, putting a damper on market sentiment.
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U.S. CPI muddies rate cut waters
The U.S. consumer inflation report for December resulted in a degree of uncertainty on Wall Street Thursday, as the headline release climbed to 3.4% on an annual basis in December, from 3.1% in November, and more than the 3.2% expected.
However, the so-called “” measure, which strips out volatile…
