Home » Stocks rebound as investors weigh fresh inflation data
U.S. stocks pared gains to decline into the last hour of trading as investors assessed fresh inflation data out of Washington that showed prices in March further accelerated to a new 40-year high.
The S&P 500 retreated to fall 0.2%, and the Dow ticked below the flatline. The Nasdaq Composite faltered after jumping earlier in the session. Meanwhile, Treasury yields slightly retreated, but the benchmark 10-year yield remained above 2.7%, the highest level since January 2019.
The moves follow a down day on Wall Street to start the week marked by mounting worries of an economic slowdown as war in Ukraine, COVID-19 lockdowns in China and the prospect of a more aggressive Federal Reserve weigh on sentiment. Investors look ahead to the start of earnings season and more economic data set for release this holiday-shortened trading week.
Markets are weighing the latest gauge on inflation in the U.S. The Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI) rose 8.5% in March compared to…
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