Tuesday saw a gain in stocks as investors anticipated the release of yet another important inflation report, following the release of new U.S. economic data.
There was a 0.4% increase in the Dow Jones Industrial Average and a 0.5% increase in the S&P 500. The Nasdaq Composite had a 0.7% increase.
Expectations that the Federal Reserve might start reducing rates later this year as inflation slows were dashed when the producer price index reading for April came in above predictions.
More than the 0.3% that Dow Jones polled experts predicted, the PPI increased by 0.5% from April.
Source (CNBC)
