US stocks close lower ahead of Thanksgiving

US stock indexes ended lower on Wednesday as the Fed’s preferred inflation gauge accelerated to 2.3% in October from 2.1% in September, ahead of Thanksgiving holiday.

The Dow Jones Industrial Average edged down 0.3%, or 138 points, to 44,722. Likewise, the S&P 500 Index decreased 0.4%, or 22 points, to 5,998, and the Nasdaq Composite lost about 0.6%, or 115 points, to 19,060.

As for the European indices, STOXX Europe 600 fell 0.2% to 504.9 points, as losses were offset by utilities’ upward trend.

FTSE 100 advanced 0.2% to 8,274 points. CAC 40 inched down 0.7% to 7,143 points, and DAX 40 finished 0.2% down at 19,261 points.

In Japan, Nikkei 225 edged down 0.80% to 38,134 points. TOPIX fell 0.90% to 2,665 points.

In the oil market, futures contracts for Brent crude for January 2025 delivery remained stable at $72.83 per barrel, after touching $73.37.

Meanwhile, prices of West Texas Intermediate (WTI) crude oil for January delivery remained almost unchanged at $68.72 per barrel, after hitting $69.37.

Gold futures for December delivery inched up 0.7%, or $18.6 to $2,639.90 per ounce, after touching $2.657.90.