U.S. stock indices showed mixed performance at the start of Thursday’s trading, following data revealing that the labor market remains strong despite high interest rates and that producer prices rose at an accelerated pace last month.
The Dow Jones Industrial Average edged up by 0.1%, or 27 points, reaching 43,986 points as of 5:38 PM Mecca time.
Meanwhile, both the S&P 500 and the Nasdaq Composite remained steady at 5,984 and 19,236 points, respectively.
Disney shares rose by 9.8% to $112.8 after the media company reported better-than-expected third-quarter earnings, supported by strong growth in streaming revenue.
Data from the Bureau of Labor Statistics showed that the annual inflation rate in producer prices accelerated to 2.4% in October, up from 1.9% in September, which could prompt the Federal Reserve to consider keeping interest rates elevated for a longer period