Power Breakfast: S&P 500 & Nasdaq Closes Lower, Notching Six Days Of Losses Ahead Of Key Inflation Report

The Dow Jones slipped 30 points amid trading in the range of 300 points ahead of the inflation data coming in the US today. S&P 500 and NASDAQ also fell slightly. Pepsi's results were better than expected, the company increased guidance. All eyes on today's inflation data with an estimate of 8.1%. The Fed says that, "The need to raise interest rates will continue. Inflation hike has been higher than expected. Inflation is expected to remain at higher levels for a long time. The terminal rate may remain close to 4.6%''. Aluminum jumped 7% in intraday on news of US ban on Russian aluminum. Crude oil slipped for the third day with trading near $ 92.