04/11/2024

Wall Street Rebounds on Softer Inflation Data, Eyes on Earnings

The market has closed down the previous day

On Thursday, U.S. stocks rebounded from a steep sell-off as fresh economic data rekindled hopes that inflation remains in a cooling trend.

Interest rate-sensitive megacaps boosted the tech-heavy NASDAQ sharply higher, while the S&P 500 and the Dow were modestly lower.

The Producer Prices index (PPI) came in cooler than expected, supporting the narrative that price growth is still cooling.

Please select this link to read the complete article from Reuters.