US STOCKS-Wall Street dips again, inflation data calms nerves


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    * CPI and core CPI rises less-than-expected in September
    * Indexes dip: Dow 0.11 pct, S&P 0.27 pct, Nasdaq 0.05 pct
    * Treasury yields extend drop after CPI data
    * Tech and FAANG stocks lead market gainers
    * Walgreens and Delta climb after quarterly results

 (Updates to open)
    By Shreyashi   Sanyal
    Oct 11 (Reuters) - U.S. stocks steadied slightly after their
worst day in eight months on Thursday as a smaller-than-expected
rise in consumer prices suggested inflationary pressures were
easing, weakening the case for an aggressive campaign of further
interest rate rises.
    The Consumer Price Index (CPI) increased 0.1 percent last
month, Labor Department data showed, as did core CPI, which
excludes volatile food and energy components. Both were below
economists' forecasts of a 0.2 percent climb.*:nLNSBLEEM0
    The main U.S. stock indexes were still slightly lower after
opening, but U.S. Treasury yields, whose rise above 3 percent
has been a key factor weakening demand for U.S. stocks,
retreated further after the numbers.
    "At least for right now, inflation fears seem to be taking a
pause. There is a tendency in the markets to overact in
both-ways in the short-term which is what we saw last week," aid
Art Hogan, chief market strategist at B. Riley FBR in New York. 
    Five of the 11 major S&P sectors rose, with some of the
biggest losers from Wednesday's slump leading the gainers.
    The technology sector  .SPLRCT  increased 0.65 percent and
the communication services  .SPLRCL  sector gained 0.50 percent.
    The two sectors house four of the five high-growth FAANG
stocks. Facebook  FB.O , Apple  AAPL.O , Netflix  NFLX.O  and
Alphabet  GOOGL.O  were up between 1 percent and 1.9 percent.
Amazon  AMZN.O , part of consumer discretionary, was down 0.6
    At 10:20 a.m. ET the Dow Jones Industrial Average  .DJI  was
down 28.70 points, or 0.11 percent, at 25,570.04, the S&P 500
 .SPX  was down 7.61 points, or 0.27 percent, at 2,778.07 and
the Nasdaq Composite  .IXIC  was down 3.93 points, or 0.05
percent, at 7,418.12.
    Energy stocks  .SPNY  fell 1 percent as oil prices hit
two-week lows after an industry report showed U.S. crude
inventories rose more than expected.  O/R 
    Walgreens  WBA.O  was up 0.4 percent, reversing premarket
losses, after the drugstore chain's profit soared 88.5 percent
as more people brought prescription medicines and it benefited
from its acquisition of Rite Aid stores.*:nL4N1WR42N
    Delta Air Lines  DAL.N  rose 4.6 percent after reporting a
third-quarter profit that beat estimates as strong demand for
air travel and tight control over costs helped the airline
battle rising fuel expenses.*:nL4N1WR48L
    Declining issues outnumbered advancers for a 1.57-to-1 ratio
on the NYSE and a 1.08-to-1 ratio on the Nasdaq.
    The S&P index recorded no new 52-week highs and 36 new lows,
while the Nasdaq recorded 5 new highs and 154 new lows.

 (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak
 ((; +1 646 223 8780 ;
Reuters Messaging:

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