The Producer Price Index, which measures the change in wholesale prices, rose 2.6 percent in June year over year—its largest increase in 16 months. By contrast, the Consumer Price Index, which tracks consumer prices, showed that the pace of inflation slowed in June. Markets shrugged off the conflicting data, instead embracing the cooler CPI data.
Gerry Sparrow
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Stocks finished the last week of June and Q2 mixed as investors digested a fresh round of economic data
News of slower job growth, slowing wage growth, and a slight uptick in unemployment helped drive down Treasury yields, and stocks finished the short week with a strong rally
Stocks edged higher over the four trading days last week, with the three major averages taking turns leading based on various economic and artificial intelligence (AI) news
Stocks notched a solid gain last week, driven by the Fed’s decision, May's inflation report, and Apple’s AI-related news.
Stocks edged lower in the final week of May as fresh news on economic growth and inflation failed to inspire investors.
One of the handful of companies bucking the trend last week was Nvidia. The company reported that its Q1 sales tripled from a year ago.
A cooler-than-expected Consumer Price Index (CPI) report sparked a broad-based rally as the upbeat news raised investors’ hopes for a rate cut.
Stocks notched a solid gain last week as rate-cut expectations paced the rally as the Q1 earnings season wound down.
Stocks notched a solid gain last week, rallying behind upbeat earnings, a dovish Fed, and mixed economic data.
Despite sticky inflation, the Fed reiterated that rate cuts were still on the table for this year, while several leading money center banks forecasted lower growth for the remainder of 2024 due partly to inflation and higher-than-expected rates.