Dow Jones Climbs to 52,000 While Chips Bleed on Rate-Hike Fears: Stock Market Today
Hot inflation data fuels Fed rate-hike bets, hammering chip and AI-hardware stocks while the Dow tops 52,000 and small caps hold gains; gold rebounds.
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Moderna starts Phase 1 trials for Ebola vaccine mRNA-1469. See premarket MRNA stock reaction, analyst updates, and ETF exposure.
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Hot inflation data fuels Fed rate-hike bets, hammering chip and AI-hardware stocks while the Dow tops 52,000 and small caps hold gains; gold rebounds.
The Nasdaq 100 fell 1% by midday Wednesday after September CPI topped forecasts, pushing Treasury yields and rate-hike bets higher.
The October 14 CPI report will determine Social Security's 2027 COLA, which is projected to be around 3.5% based on July and August CPI-W data. This would increase the average retired worker's monthly benefit from $2,088 to approximately $2,161, an increase of $73 per month. However, critics argue CPI-W doesn't fully capture retirees' actual inflation costs, particularly healthcare.
Stocks fell and small caps slumped Wednesday as the 30-year Treasury yield hit 5.7%, a 24-year high, with Fed minutes and bond auctions ahead.
The Nasdaq 100 fell 1.5% at midday Friday as memory chips and AI-debt names sold off, while Fed Chair Warsh declined to rule out an October hike after hot CPI and PPI. WTI held near $96, the 10-year yield hovered around 5.1%, gold bounced toward $4,200 and bitcoin traded near $81,300.
Moderna stock has surged over 600% in 2026, outperforming major AI stocks like Nvidia, Micron, and Sandisk, driven by progress in its oncology pipeline, particularly its personalized cancer vaccine candidate intismeran autogene. The stock now trades 61% above Wall Street's average price target of $122, and while the company shows promise as it transforms from a coronavirus vaccine company into a broader biotech player, the analyst recommends waiting for a pullback before buying.