Dow Jones Pulls Back as Hot CPI and $100 Oil Test the 50,000 Trade
Late in the morning, the Dow Jones Industrial Average slipped, giving back gains from the same playbook that pushed it close to 50,000: heavyweight industrials, financials, and growth-tied blue chips, all riding hopes of a gentle inflation backdrop. By 10:00 a.m. ET, the Dow was down 297.98 points, sitting at 49,406.49. The DIA ETF, which tracks the benchmark, showed a 0.61% drop to $494.06 as of a 10:53 a.m. ET read.