US Stocks Close Mixed Amid Cooler Inflation Data

NEW YORK, Feb 14 (Bernama-Xinhua) -- United States (US) stocks closed mixed on Friday as investors weighed a favourable cooling in consumer inflation against the artificial intelligence (AI) anxieties, reported Xinhua.

The Dow Jones Industrial Average edged up 0.1 per cent to 49,500.93. The S&P 500 rose 0.05 per cent to 6,836.17, while the Nasdaq Composite Index shed 0.22 per cent to 22,546.67.

Data released by the US Bureau of Labour Statistics offered some optimism for the Federal Reserve's disinflationary efforts.

The consumer price index rose 0.2 per cent month on month in January, bringing the annual inflation rate down to 2.4 per cent, the slowest pace of increase since May. Core inflation, which excludes food and energy costs, fell to 2.5 per cent year over year.

The technology sector faced sustained downward pressure as the so-called "AI panic trading" spread from enterprise software into more labour-intensive sectors.

Major tech leaders, including Nvidia, Apple, Alphabet and Meta, recorded losses exceeding one per cent as investors reassessed valuations amid fears that new generative tools could soon render certain white-collar functions obsolete.

On the corporate earnings front, Coinbase soared 16.46 per cent as the company reported improved subscription and service revenue despite recent volatility in the digital asset market.

Semiconductor equipment maker Applied Materials surged 8.08 per cent, reaching an all-time high after providing a robust outlook for 2026.

Airbnb rose 4.65 per cent on upbeat guidance, while Pinterest and DraftKings both plummeted at least 13 per cent following disappointing fiscal forecasts.

In the bond market, the yield on the 10-year US Treasury bond eased to 4.05 per cent as the market balanced positive inflation progress against broader economic uncertainty. 

--BERNAMA-XINHUA