From Yahoo Finance: 2024-05-14 10:06:54

Wall Street traders react to mixed inflation report with stocks and bonds edging higher, following remarks from Fed Chair Jerome Powell. Despite a hotter-than-expected producer inflation reading, key categories eased concerns about stubborn inflation. Market optimism remains high as S&P 500 nears all-time highs, with some caution ahead of CPI report release.

Core consumer price index expected to rise 0.3% from last month, with a projected 3.6% increase compared to April 2023. Investors anticipate stock market growth based on strong corporate profits and consumer spending, but brace for volatility due to ongoing inflation concerns. Fed closely monitoring inflation data to guide interest rate decisions.

Home Depot sees sixth straight quarter of negative sales, Tencent reports 62% earnings surge while Alibaba’s profits plunge. Comcast offers streaming bundle including Apple TV+, Netflix and Peacock. Plug Power surges with $1.66 billion loan guarantees offer, Verizon eyes buying back stake in US Cellular Corp. auto-safety regulator investigates Waymo incidents. Stellantis to sell Chinese-made cars in Europe.



Read more at Yahoo Finance: Wall Street Looks Past PPI With Powell in Focus: Markets Wrap