Investing.com — US stocks drifted lower Wednesday, as stronger inflation data and cautions trading ahead of the Thanksgiving holiday weighed.   .

At 1:03 p.m. ET (18:03 GMT), the fell 102 points, or 0.3%, while the index dropped 0.5% and the slipped 0.9%. 

Trading volumes are likely to be muted Wednesday, ahead of the Thanksgiving holiday on Thursday and the early close on Black Friday.

PCE inflation data above Fed’s 2% target 

The for October came in as expected, with the annual figure climbing 2.3%, while the , the Fed’s preferred inflation gauge, rose 2.8% in October, considerably above the Fed’s 2% annual target.

Recent signs of sticky US inflation have sparked some doubts over just how much the Fed will cut interest rates further, and markets have begun questioning the prospect of a 25 basis point cut in December.

These doubts were furthered by the release of strong economic numbers earlier Wednesday, suggesting that the US economy was in a healthy enough sate to cope with interest rates at current levels.

Weekly for first-time unemployment benefits dipped to 213,000 from a revised lower 215,000 in the prior week, with claims steadily retreating from the near 1-1/2-year high seen in early October, while the  grew at a unrevised 2.8% annualized rate in the third quarter, well above what Federal Reserve officials regard as the non-inflationary growth rate of around 1.8%.

The Federal Reserve is likely to cut interest rates in December before switching to a slower pace of cuts in 2025, UBS said in note, stating that US economic growth was likely to remain strong. 

The Swiss bank’s base case is for a 25 basis point cut in December, after which the Fed is expected to cut rates once per quarter in 2025. 

“While we expect somewhat more moderate GDP growth in the quarters ahead, Fed rate cuts should help to keep the expansion going,” UBS analysts wrote in a note. 

Disappointing corporate results 

On the corporate front, HP (NYSE:) slid 12% after the information technology company issued disappointing guidance for 2025, while Dell Technologies (NYSE:) tumbled over 10% after the PC manufacturer offered up a disappointing revenue outlook for the current quarter despite bullish commentary from the company on AI sales growth.

Workday (NASDAQ:) fell 5% as the cloud-based business applications company issued disappointing subscription revenue guidance, hit by weaker client spending on its human capital management software.

Despite the guidance cut, Workday’s valuations remains too good to ignore, analysts from Morgan Stanley (NYSE:) said in a Wednesday, citing improving market conditions.

(Peter Nurse, Ambar Warrick contributed to this article.) 

• New 2025 Subaru (OTC:) WRX tS is the most advanced WRX ever with Drive Mode Select and electronically controlled dampers tuned by Subaru Tecnica International
• Standard EyeSight ^® Driver Assist Technology and DriverFocus ^® Distraction Mitigation System on all trim levels
• New Galaxy Purple color option available across WRX lineup
• 271-horsepower, 2.4-liter turbocharged BOXER engine
• Standard 11.6-inch SUBARU STARLINK ^® Multimedia Plus System including wireless Apple (NASDAQ:) CarPlay ^® and wireless Android Auto^™ compatibility
• WRX base model discontinued for 2025
• Starting price for WRX Premium starts at $35,750 MSRP

CAMDEN, N.J., Nov. 27, 2024 /PRNewswire/ — Subaru of America, Inc. announced pricing today on the 2025 WRX, including the new STI-tuned WRX tS. The 2025 Subaru WRX lineup offers exceptional performance throughout the model range beginning with its 271-horsepower, 2.4-liter turbocharged Subaru BOXER ^® engine and Subaru Symmetrical All-Wheel Drive. The new 2025 Subaru WRX tS goes further with electronically controlled adjustable dampers tuned by Subaru Tecnica International, uprated Brembo (BIT:) ^® brakes, and 19-inch alloy wheels in satin gray finish paired with Bridgestone Potenza S007 tires. The 2025 Subaru WRX will arrive at retailers in early 2025 with a starting price of $35,750 MSRP.

“Our customers expect value, performance and practicality with the 2025 Subaru WRX, and we’re happy to deliver all of those. Few buyers opted for the base trim level last year, while nearly half of all WRX buyers opt for features found on the Premium trim level, which is why it’s the entry point this year,” said William Stokes, Car Line Planning Manager for Subaru of America. “For 2025, the Subaru WRX lineup reflects our buyers’ preferences for features and fun at every stop, from Premium to tS.”

The 2025 Subaru WRX will be offered in four trim levels: Premium, Limited, GT, and tS. Last year’s base WRX configuration has been discontinued. A 6-speed manual transmission is standard on all trim levels, except the GT. The Subaru Performance Transmission (SPT) is available in Premium and Limited trim levels and is standard on the GT. The 6-speed manual transmission features optimized gear ratios with refined shift quality and Incline Start Assist. The SPT offers crisp up and down shifts, including adaptive shift control to quickly respond with rev-matching downshifts under braking to maintain an ideal gear ratio around corners for corner exits and Reverse Automatic Emergency Braking.

Visually, the 2025 Subaru WRX is marked by its iconic hood scoop and signature hexagonal grille flanked by compact LED headlights. The “WRX” badging stands out this year thanks to a new red badge in the grille and rear trunk lid. Galaxy Purple debuts this year as a new color available across the lineup for $395 MSRP. The new color is a rich purple hue enhanced by blue and purple metallic flake and pays a small tribute to the popular Plasma Blue tone from the third-generation WRX.

Inside, the 2025 Subaru WRX is equipped with an 11.6-inch SUBARU STARLINK ^® Multimedia Plus system with high-resolution touchscreen for audio, vehicle, and climate controls. Wireless Apple CarPlay ^® and Android Auto^™ compatibility, SiriusXM All-Access Radio with 360L (4-month trial included), HD Radio, Bluetooth ^® hands-free phone and audio streaming are also equipped. All trim levels (aside from tS) boast revised interior red contrast “WRX” stitching in the dash, and WRX Limited and GT receive updated interiors with bold, red contrast stitching on seat bolsters and headrests.

For 2025, all Subaru WRX models are equipped with Subaru EyeSight ^® Driver Assist Technology and DriverFocus ^® Distraction Mitigation System, including models equipped with a manual transmission. On vehicles with a manual transmission, EyeSight ^® includes Advanced Adaptive Cruise Control with Lane Centering, Automatic Emergency Braking, Lane Departure Prevention, and Pre-Collision Brake Assist. (Pre-Collision Throttle Management is included on models equipped with SPT.)

Also standard across the model line is the latest generation of SUBARU STARLINK ^® Safety and Security. Available packages offer emergency services and convenience features such as Automatic Collision Notification, Enhanced Roadside Assistance, Stolen Vehicle Recovery, Vehicle Diagnostic Alerts, Remote Engine Start with Climate Control, and more.

2025 Subaru WRX Premium

Starting at $35,750, the 2025 Subaru WRX Premium offers unmistakable performance and popular driver-convenience features. The Premium trim level offers 18-inch alloy wheels with dark gray finish and 245/40 R18 summer performance tires; heated front seats, exterior mirrors, and windshield wiper deicer; aluminum alloy pedal covers; LED fog lights; Keyless Access with Push-Button Start; USB-A and USB-C input charge ports for front seat occupants; USB-A and USB-C charge ports for rear passengers and a truck lid body-color rear spoiler.

An optional package for the 2025 Subaru WRX Premium adds an 11-speaker Harman Kardon ^® Speaker System with a 504-watt equivalent amplifier and a Power Moonroof for $1,865. Equipped with the SPT, the 2025 Subaru WRX Premium costs $37,100 and adds steering wheel-mounted paddle shifters with eight preselected gear ratios, Harman Kardon ^® Speaker System, Power Moonroof, SI-Drive Engine Performance Management, and Auto Vehicle Hold.

2025 Subaru WRX Limited

Building on features found on the Premium trim level, the 2025 Subaru WRX Limited adds a standard Harman Kardon ^® Speaker System with a 504-watt equivalent amplifier; SUBARU STARLINK ^® 11.6-inch Multimedia Navigation System with voice-activated navigation powered by TomTom ^® (3-year free map updates); 10-way power-adjustable driver’s seat including lumbar support; Blind-Spot Detection with Rear Cross-Traffic Alert; LED Steering Responsive Headlights; Power Moonroof; Ultrasuede ^® and leather-trimmed upholstery; and body-color side mirrors with integrated turn signals. The 2025 Subaru WRX Limited costs $40,130 MSRP with a 6-speed manual transmission, and $41,680 MSRP when equipped with the SPT.

2025 Subaru WRX tS

New for 2025, the performance-focused Subaru WRX tS offers increased handling capability and ride comfort thanks to new STI-tuned electronically controlled dampers. The tS (“tuned by STI”) trim level is the first of its kind offered on WRX and boasts distinctive interior and exterior enhancements, including a new fully digital 12.3-inch gauge cluster, alongside its mechanical additions.

The Subaru WRX tS also comes equipped with a high-performance Brembo ^® braking system, including 6-piston front and 2-piston rear calipers in signature gold, including larger pads and rotors. The system combines enhanced stopping power and fade resistance with exceptional pedal feel. The Subaru WRX tS also comes equipped with standard 245/35 R19 Bridgestone Potenza S007 tires for increased wet and dry performance wrapping 19-inch aluminum-alloy wheels with a satin gray finish.

Drive Mode Select in the WRX tS features settings for the STI-tuned electronically adjustable dampers to tailor performance among Comfort, Normal, and Sport settings. The system also includes adjustable settings for the power steering, throttle response, and EyeSight ^® system, including a user-customizable Individual mode accessible via steering wheel controls or touchscreen settings.

Inside, grippy Recaro ^® Performance Design front seats are wrapped in black Ultrasuede ^® with contrasting blue accents and “WRX tS” embossed on the front headrests and carpeted floormats. The seat bolsters, steering wheel, door panels, and shifter trim are complemented with blue accents as well. The 2025 Subaru WRX tS costs $45,705 MSRP.

2025 Subaru WRX GT

Available exclusively with the SPT, the 2025 Subaru WRX GT builds on the WRX Limited with an Ultrasuede ^® dash panel with red stitching, Recaro ^® Performance Design front seats, an 8-way power-adjustable driver’s seat,18-inch alloy wheels finished in matte gray, and a sport-tuned suspension with Electronic Adjustable Ride Control. The 2025 Subaru WRX GT is priced at $45,705 MSRP.

The 2025 Subaru WRX is assembled in Gunma, Japan and will begin arriving in retailers nationwide in early 2025.

About Subaru of America, Inc.
Subaru of America, Inc. (SOA) is an indirect wholly owned subsidiary of Subaru Corporation of Japan. Headquartered in Camden, N.J., the company markets and distributes Subaru vehicles, parts, and accessories through a network of about 640 retailers across the United States. All Subaru products are manufactured in zero-landfill plants, including Subaru of Indiana Automotive, Inc., the only U.S. automobile manufacturing plant designated a backyard wildlife habitat by the National Wildlife Federation. SOA is guided by the Subaru Love Promise, which is the company’s vision to show love and respect to everyone and to support its communities and customers nationwide. Over the past 20 years, SOA and the SOA Foundation have donated more than $320 million to causes the Subaru family cares about, and its employees have logged over 100,000 volunteer hours. Subaru is dedicated to being More Than a Car Company ® and to making the world a better place. For additional information, visit media.subaru.com. Follow us on Facebook (NASDAQ:), Instagram, <a href="https://c212.net/c/link/?t=0&l=en&o=4312809-1&h=4273439425&u=https%3A%2F%2Furldefense.com%2Fv3%2Fhttps%3A%2Fwww.linkedin.com%2Fcompany%2Fsubaru-of-america%2F%3B!!P1uQfTJRew!RITC1tICLlR8tTdygLlH6eiHENIniru8XHdUVy0VTgQgkhmXIrEhDmg0rHqzgny7ey_ys_IlZvCI1TBBwUQ%24&a=LinkedIn” rel=”nofollow” target=”_blank”>LinkedIn, TikTok, and YouTube.

Dominick Infante
Director, Corporate Communications
856.488.8615
dinfante@subaru.com

Aaron Cole
Product Communications Manager
720.231.0809
acole1@subaru.com