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Tech stock whiplash continues, and more people take Peloton for a spin: What today's news means for your money

Tech stocks continue to move the broader market. Meanwhile, inflation is up a little more than expected, and Peloton reports spectacular sales in lockdown.

Source: Peloton

Tech stocks continue their whiplash; inflation is up; and Peloton has benefited from lockdowns. Here's how the headlines could affect your money.

Tech stocks still unsteady

After the tech sell-off started last week and spilled over into this week, with a brief reprieve on Wednesday, tech stocks saw tiny gains in early trading Friday.

The tech-heavy Nasdaq reversed course and declined by early afternoon. It's tracking for its worst week since March, and the rest of the market has been affected.

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Consumer prices rise more than expected

The Bureau of Labor Statistics released the Consumer Price Index Friday for the month of August. It's up 0.4% from July and 1.3% over the same month last year — worse than analyst expectations. 

On "Squawk Box" Friday, CNBC's Rick Santelli called the jump "significant." Due to the pandemic, he says many experts "are very unsure how the mid- to long-range inflation outlook will turn out." 

That's worth paying attention to: When it comes to your personal finances, inflation can affect everything from how much you pay to how much you earn. It can also cut into the value of your savings and give you more incentive to keep investing for long-term goals.

Peloton thrives during the pandemic

Exercise-machine maker Peloton announced Thursday that its Q4 sales were up 172%, buoyed by consumers trying to stay fit at home after the pandemic forced gyms to shut down. The company also recently launched a new bike and treadmill. 

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Before you hop on the home workout trend, be sure to compare the bike against competitors to see which is the best value — and make sure to cancel your gym membership.

Words you've heard: Consumer Price Index (CPI)

The Consumer Price Index (CPI) measures the average change over time in prices paid by consumers for common goods and services. It's one of three primary measures of inflation in the U.S.

Monthly CPI reports have the potential to move markets. Investors watch this metric to gauge what the Federal Reserve might do, because central bankers may boost interest rates to keep inflation in check.

Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.

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