From CNBC: 2024-05-12 18:57:00

Stocks are at a key inflection point this week as investors await the April inflation data to gauge the Federal Reserve’s next move. In recent months, inflation has been ticking higher, leading to concerns about consistent price pressures. However, Fed Chair Jerome Powell has indicated that the next move will not likely be a rate hike, following a data-dependent approach. This sentiment has helped stabilize stocks, but Wednesday’s CPI report will be a real test of whether rate hikes are truly off the table. Stock futures are currently showing little change as the market awaits this important data release.



Read more at CNBC: Stock market news for May 12, 2024