US stocks trade mixed as consumer inflation comes in stronger than expected

• US stocks trade mixed as consumer inflation came in stronger than expected.
• The headline September consumer price index rose 0.4% for the month and 3.7% from a year ago.

US stocks traded mixed on Thursday as investors took in the latest inflation data, which came in slightly hotter than projected.

September's consumer price index grew 0.4% from the prior month and 3.7% compared to a year ago. That's slightly ahead of estimates for 0.3% and 3.6%. Core price rose 0.3% for the month and 4.1% on the year, in line with expectations.

"If these inflationary signs persist or amplify, especially with potential surprises in retail sales data, the Federal Reserve may be compelled to adopt a more restrictive stance," Jon Maier, chief investment officer at Global X, said. "On the other hand, if the figures stabilize around these levels, given the recent sharp rise in yields, the Fed might maintain its pause, holding its position, thereby offering some breathing room to the economy."

Investors can expect some indication of potential monetary policy from Fed presidents Raphael Bostic and Susan Collins, who are set to give remarks on Thursday. According to the CME FedWatch Tool, traders are holding an 87.4% chance that interest rates remain steady in the next FOMC meeting.

Here's where US indexes stood at the 9:30 a.m. opening bell on Thursday:

• S&P 500: 4,378.86, up 0.04%

• Dow Jones Industrial Average: 33,790.66, down 0.04% (14.21 points)

• Nasdaq Composite: 13,674.62, up 0.01%

Here's what else is going on today:

• High bond yields will become the norm as the inflation fight will carry on, Harvard's Ken Rogoff said.
• The crypto-friendly lender Nubank is Warren Buffett's best performing stock this year.
• Russia rolled out capital controls to support the cratering ruble.

In commodities, bonds, and crypto:

• West Texas Intermediate crude oil climbed 1.54% to $84.78 a barrel. Brent crude, the international benchmark, rose 1.25% to $87.43 a barrel.
• Gold edged down 0.39% to $1,879.49 per ounce.
• The 10-year Treasury yield gained 2.3 basis points to 4.62%.
• Bitcoin inched 0.49% up to $26,824.