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By Staff Reporters
FLAG DAY 2023
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Measured year over year, inflation slowed to just 4 per cent in May — the lowest 12-month figure in over two years and well below April’s 4.9 per cent annual rise. The pullback was driven by tumbling gas prices and smaller increases in grocery prices and other items.
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Here is where the major benchmarks ended, today:
- The S&P 500® Index was up 30.08 points (0.7%) at 4,369.01; the Dow Jones industrial average was up 145.79 (0.4%) at 34,212.12; the NASDAQ Composite was up 111.40 (0.8%) at 13,573.32.
- The 10-year Treasury note yield (TNX) was up about 6 basis points at 3.829%.
- CBOE’s Volatility Index (VIX) was down 0.4 at 14.61.
Regional banks and oilfield services stocks led the gainers Tuesday. Crude oil futures rose 3% on expectations of stronger demand from China. Small-caps were also strong, with the Russell 2000 Index (RUT) rising more than 1% to its highest level since early March. The U.S. Dollar Index (DXY) fell to its lowest level in more than three weeks thanks to expectations interest rates could be near their peak.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, Investing, LifeStyle | Tagged: CBOE, crude oil, DJIA, DOW, DYX, Federal Reserve, flag day, FOMC, gas, gas prices, grocery prices, inflation, inflation May drop, markets, NASDAQ, Russell 2000, RUT, S&P 600, stocks, Treasury yields | Leave a comment »
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