Following an unexpected increase in April’s producer price index, traders sought clarification on potential future policy actions from the Federal Reserve, which kept markets flat on Tuesday.
The S&P 500 and the Dow Jones Industrial Average were both almost flat. 1.3% was added to the Nasdaq Composite.
As inflation declines, expectations that the Federal Reserve will start reducing rates later this year were dashed by the producer price index data for April, which came in over predictions.
Compared with the 0.3% growth predicted by Dow Jones experts, the PPI increased by 0.5% from April.
Source (CNBC)
