证券时报·2025-06-12 00:20Core Viewpoint - The article discusses the recent performance of the U.S. stock market, particularly the slight declines in major indices, and highlights the impact of inflation data and trade tensions on investor sentiment [1][2][3]. Market Performance - On June 11, the Dow Jones fell by 1.10 points to 42865.77, the Nasdaq dropped by 99.11 points (0.50%) to 19615.88, and the S&P 500 decreased by 16.57 points (0.27%) to 6022.24 [2]. - After a recent rebound, traders took profits, with the S&P 500 index having risen in 6 out of the last 7 trading days, nearing its record high from February [2]. Inflation Data - The U.S. Consumer Price Index (CPI) for May showed a month-on-month increase of 0.1%, which was below market expectations [3][4]. - The annual inflation rate remained at 2.4%, while the core CPI (excluding food and energy) rose by 0.1% month-on-month and 2.8% year-on-year, also below expectations [5][8]. - The data indicates that the tariffs imposed by the Trump administration have not significantly impacted inflation, as key categories like automobiles and clothing saw price declines [5][6]. Federal Reserve and Monetary Policy - Following the inflation data release, traders increased bets on the Federal Reserve initiating interest rate cuts in September [7][8]. - U.S. Vice President Pence echoed President Trump's call for the Fed to ease monetary policy, emphasizing that the current inflation data does not exert upward pressure on prices [7][8]. Sector Performance - In the S&P 500, seven out of eleven sectors declined, with consumer discretionary and materials leading the losses at 1.02% and 0.98%, respectively [10]. - Energy stocks saw an overall increase, with major companies like ExxonMobil and Chevron rising over 1% [11]. - Notably, Intel's stock dropped over 6% after Apple announced it would cease support for Intel chips in its macOS [9][10].