U.S. stocks turned to a positive Wednesday as investors digested a significant report on the U.S. inflation situation, which came to be much hotter than expected in all major metrics.
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The S&P 500 ros is about 0.5% during the day, removing losses soon after the market opens. Each Nasdaq and Dow turned out to be optimistic. Treasurer's gains earned, and the 10-year average has added more than 3 key points to fall back more than 3%.
The move comes in the wake of the April Consumer Price Index (CPI) of the Department of Labor, which provided an update on inflation in the US economy. Although the report shows inflation compared to March, the rate of inflation has risen sharply beyond the expectations of most economists.
CPI increased 8.3% in April over the previous year, down slightly from an 8.5% increase. That was the fastest time in about 40 years. Consensus financiers were expecting an 8.1% increase in April.
Much of that slowdown was due to lower energy prices. But with the exception of food and energy levels, the main CPI declined slightly in April compared to March. Core CPI increased by 6.2% last month last year, following a March increase of 6.5%. This is also hotter than the expected 6.0% increase.
Recent inflation data helps to inform how far the Federal Reserve will need to go in raising interest rates and tightening monetary policy to keep inflation rising. Uncertainty about the Fed's next move - and whether these measures will lower inflation while avoiding the downturn - has caused strong volatility in all risk assets, causing the S&P 500 to fall by almost 17% from its latest high record since 3 Jan. Shares fell briefly on Tuesday afternoon after Cleveland Fed President Loretta Mester said she had seen a 50-point interest rate increase in the next two Fed meetings, while leaving the door open for a 75-point increase that could be even bigger.
"We will see more instability. This will not be an easy way forward as we still have a lot of unknown things," Omar Aguilar, CEO of Schwab's asset management and chief investment officer, told Yahoo Finance Live on Tuesday. "There is still a lot of uncertainty in many areas, not only in the big economy and economic structure, but also geographically, unresolved issues, such as the Ukrainian war and the COVID situation in China."
Some also suggest that investors should look for more flexibility in the near future.
"We finally started to see signs of panic last week or more, apparently late last week and on Monday," Scott Brown, an LPL financial market strategist, told on Tuesday. "' , of this size. "
6:15 p.m. ET Tuesday: Stock futures steady ahead of CPI data
Here's where markets were trading Tuesday evening:
