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U.S. equities declined in a choppy and cautious trading session as investors await a host of notable economic reports later this week. The economic docket, while empty today, will round out the inflation picture with release of the Producer Price Index (PPI), as well as the Import Price Index on Wednesday. The releases will follow last week’s cooler-than-expected Consumer Price Index (CPI), which appeared to soothe concerns about how aggressive the Fed will need to remain as FOMC Vice Chair Lael Brainard said it will “probably be appropriate soon” to slow down the pace of interest rate hikes. And Hasbro was the S&P 500’s biggest loser of the day as Bank of America downgraded the stock.
Treasury yields were mostly higher, and the U.S. dollar rose, paring some of last week’s tumble.
Crude oil prices were lower, while gold reversed to the upside following losses earlier in the day.
Equity news was light, with Tyson Foods missing on the bottom line, but reporting record sales for the year and upping its quarterly dividend.
Stocks in Asia were mixed, with Hong Kong leading the region in gains following a jump in property stocks, while European stocks ended the day mostly higher in cautious trading.
Cryptocurrency lender BlockFi just admitted it has significant exposure to Sam Bankman-Fried’s crypto exchange FTX, and associated entities, that last week filed for bankruptcy.
Finally, although it’s become more difficult to find qualified healthcare professionals, it’s proving just as difficult to retain staff, especially when working with fewer resources. At the recent HR Healthcare conference in Austin, much of the retention conversation focused on improving the quality of work life and flexibility. But we want to hear how you’re solving retention and staffing problems: Share your insights right here on the ME-P.
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Filed under: Alerts Sign-Up, Alternative Investments, Financial Planning, Health Economics, Investing | Tagged: BlockFi, healthcare provider, inflation, inflation data, Stocks Lower |
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