Wall Street mixed ahead of key US inflation data
US stocks finished mixed on Monday, as traders shook off a warning over the country's credit rating and prepared for the release of key inflation data. On Friday, Moody's downgraded its outlook on US debt to "negative" from "stable," ahead of a November 17 deadline for a budget deal in Congress to avert a government shutdown. "The market is taking a wait and see approach," to the prospect of a government shutdown, said Jack Ablin from Cresset Capital. The Dow Jones was the only major index on Wall Street to increase, ticking up 0.2 percent to 34,337. The S&P 500 Index slipped 0.1 percent to 4,411, while the Nasdaq fell 0.2 percent to 13,767. The closely-watched consumer price index (CPI) gauge of inflation will be published on Tuesday, shedding light on the Federal Reserve's progress in tackling high inflation. Although the CPI has dropped sharply since peaking at more than nine percent last year, it remains elevated, keeping up the pressure on the Fed to act. "I think everyone is waiting for the inflation report," said Ablin from Cresset Capital. "I believe it is more important than even the jobs report." Among individual stocks, Tyson Foods saw its share price decline 2.8 percent after reporting lower-than-expected revenues in the third quarter of the year. (AFP)