Quilland Arrow Press - Promo

Inflation Jitters Roil Markets, Dow Down 100+


The Dow Jones Industrial Average fell for a fourth day Thursday, as concern over inflation dented investor sentiment.

Even so, the 30-stock index had rallied to within 110.85 points of breakeven by noon EDT to 38,350.66.

The S&P 500 index eked out gains of 7.28 points to 5,167.92.

The NASDAQ strengthened 106.93 points to 16,277.29.

The early stages of earnings season continue Thursday, with CarMax falling more than 11% after disappointing on both top and bottom lines.

The unofficial start to the period commences with big bank earnings from JPMorgan, Wells Fargo and Citigroup on Friday.

The producer price index reading for March came in below estimates, providing some relief after Wednesday’s selloff on a faster-than-expected rise in prices for consumer goods and services. Wholesale prices rose 0.2% in March, while economists polled by Dow Jones expected 0.3% growth. Core CPI, which excludes food and energy, increased 0.2%, in line with forecasts.

Prices for the 10-year Treasury hesitated, raising yields to 4.57% from Wednesday’s 4.55%. Treasury prices and yields move in opposite directions.

Oil prices lost 75 cents to $85.46 U.S. a barrel.

Gold prices brightened $13.70 to $2,362.10 U.S. an ounce.



Source link

About The Author

Scroll to Top