Stocks Tick Higher Ahead Of Inflation Report
Date
5/14/2024 3:19:47 PM
(MENAFN- Baystreet) Stocks Unchanged After Inflation Data
Key Inflation Throws Cloud over Futures
Stocks Little Changed as Inflation Worries Increase
Stocks Rise as Dow Builds on Last Week's Performance
Stocks Rise as Dow Builds on Last Week's Performance Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Tuesday, May 14, 2024
Stocks Tick Higher Ahead of Inflation Report Advertisment
Stocks traded higher on Tuesday as traders looked for clarity on future Federal Reserve policy moves after April's producer price index rose more than expected.
The Dow Jones Industrials gained 64.75 points to 39,496.26.
The S&P 500 picked up 11.18 points to 5,232.60.
The NASDAQ strengthened 69.74 points to 16,457.98.
Shares of GameStop soared 63%, extending their rally from Monday, when they gained 74%.
The producer price index reading for April came in above estimates, putting a damper on expectations that the Federal Reserve would begin cutting rates later this year as inflation weakens. The PPI gained 0.5% from April, higher than the 0.3% that economists polled by Dow Jones had anticipated.
Prices for the 10-year Treasury gained a bit of ground, pushing yields down to 4.46% from Monday's 4.49%. Treasury prices and yields move in opposite directions.
Oil prices sank 60 cents to $78.52 U.S. a barrel.
Gold prices soared $12.70 to $2,355.70.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN14052024000212011056ID1108212913
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.