Key takeout
- US stocks fell at noon when a January report on consumer prices showed inflation rates had risen more than expected.
- Stocks of companies in the home construction industry fell as inflation data raised concerns about future rises in mortgage rates.
- Sales at CVS Health's pharmacy and healthcare units helped drive revenue and revenue estimates.
U.S. stocks fell at noon, when a January report on consumer inflation was higher than expected. The Dow Jones industrial average, the S&P 500 and the Nasdaq all fell, but the Treasury yields skyrocketed in 10 years.
Builder First Source (BLDR) and other stocks slipped as inflation news raised concerns that the Federal Reserve would maintain borrowing costs.
Stock in Westinghouse Air Brake Technologies (WAB) fell when the locomotive technology company missed profit and sales estimates and warned about future outcomes due to slowing freight.
Kraftheinz (KHC) slides when manufacturers of ketchup and other packaged foods post worse sales and guidance as worse sales and guidance than expected slowed demand.
CVS Health (CVS) was the best-performing stock in the S&P 500 when pharmacy chains and healthcare providers beat higher revenue profits and sales forecasts from pharmacies and healthcare businesses.
Tesla (TSLA) stocks were acquired when benchmark analysts begin coverage with a “buy” rating, referring to electric vehicle (EV) manufacturers Robotaki, robotics and battery technology.
Gilead Sciences (GILD) stock jumped after exceeding estimates of revenue, revenue and guidance for booming sales for HIV treatments.
Oil and gold futures have fallen. The US dollar was rising to the pound and yen, falling slightly against the euro. The prices of most major cryptocurrencies fell, but Bitcoin was slightly higher.
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