Tuesday, May 21, 2024
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The Dow Climbs More Than 100 Points Ahead of the Consumer Inflation Report, While the Nasdaq Soars to a Record Close

Tuesday’s gains in stocks came after new economic data from the United States was released, and investors were waiting for another important report on inflation.

The S&P 500 gained 0.5%, while the Dow Jones Industrial Average gained 149 points, or 0.4%.

The Nasdaq Composite experienced a 0.7% increase. A lower than expected report for the producer price index in April dampened expectations that the Federal Reserve will start reducing rates later this year as inflation starts to decline.

The PPI increased by 0.5% from April, exceeding the 0.3% gain predicted by Dow Jones experts in their poll.

Source (CNBC)

SourceCNBC
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