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By Staff Reporters
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A closely-watched government measure of inflation is expected to show that price increases cooled further last month. March’s Consumer Price Index (CPI), slated for release today,is expected to come in at5.2%, a slowdown from February’s 6% annual gain, according to estimates from Bloomberg. The number would mark the slowest annual increase in consumer prices since May 2021 but would still be significantly above the Federal Reserve’s 2% target. The Fed has been raising interest rates to try to bring down inflation, but the central bank risks sending the economy into a recession by hiking rates too high too fast.
CITE: https://www.r2library.com/Resource/Title/0826102549
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The following is a round-up of today’s market activity:
- The S&P 500® Index was down 0.17 point at 4108.94; the Dow Jones industrial average was up 98.27 (0.3%) at 33,684.79; the NASDAQ Composite was down 52.48 (0.4%) at 12,031.88.
- The 10-year Treasury yield was up about 1 basis point at 3.428%.
- CBOE’s Volatility Index was up 0.12 at 19.09.
Energy companies led the gainers, with the PHLX Oil Service Index jumping nearly 2% behind strength in crude oil futures, which rallied to their highest levels since late January. The transportation and financial sectors were also strong.
The U.S. dollar weakened slightly, while gold futures climbed nearly 1% to end a three-day tumble.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Investing | Tagged: CBOE, CPI, DJIA, DOW, fed, Federal Reserve, FOMC, gold futures, inflation, oil futures, PHLX, S&P 500, Treasury yields |
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