A number of stocks fell in the afternoon session after hotter-than-expected inflation data and rising concerns over credit risk rattled investors. January's Producer Price Index (PPI), a measure of wholesale inflation, rose 0.5% against expectations of 0.3%, with the core component jumping 0.8%. This report fuels the narrative of "sticky inflation," suggesting the Federal Reserve may have limited room to cut interest rates.
A number of stocks fell in the afternoon session after hotter-than-expected inflation data and rising concerns over credit risk rattled investors. January's Producer Price Index (PPI), a measure of wholesale inflation, rose 0.5% against expectations of 0.3%, with the core component jumping 0.8%. This report fuels the narrative of "sticky inflation," suggesting the Federal Reserve may have limited room to cut interest rates.
The S&P 500 Index ($SPX ) (SPY ) on Friday closed down -0.43%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -1.05%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.30%. March E-mini S&P futures (ESH26 ) fell -0.47%, a...
Shares of global financial services giant Citigroup (NYSE:C) fell 5.8% in the afternoon session after hotter-than-expected inflation data and rising concerns over credit risk rattled investors.
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Shares of digital banking company Axos Financial (NYSE:AX) fell 8.9% in the afternoon session after a key inflation report came in higher than expected, sparking a broad market sell-off that hit financial stocks particularly hard.
Shares of regional banking company SouthState (NYSE:SSB) fell 5.9% in the afternoon session after a broad sell-off in the financial sector was fueled by a hotter-than-expected inflation report and rising concerns over credit quality.
Shares of global airline Delta Air Lines (NYSE:DAL) fell 6.4% in the afternoon session after a surge in crude oil prices sparked concerns about rising jet fuel costs, which could cut into the airline's profits.
Shares of regional banking institution Bank of Hawaii (NYSE:BOH) fell 5.1% in the afternoon session after a government report showed wholesale inflation was higher than expected, fueling concerns about credit risk and the potential for interest rates to remain elevated.
Shares of marketing technology company Zeta Global (NYSE:ZETA) fell 7.1% in the afternoon session after a key inflation report came in higher than anticipated, triggering a broad sell-off in the stock market that particularly affected technology companies. The U.S. Producer Price Index (PPI), a measure of wholesale inflation, rose by 0.5% for the month, exceeding expectations of a 0.3% increase. This unexpectedly high figure fueled concerns about persistent inflation. In response to the data, the wider market saw a downturn, with the S&P 500, Dow Jones, and Nasdaq all declining. The report prompted traders to shun riskier assets, and technology stocks were among the hardest hit in the sell-off.
Shares of ophthalmology biopharmaceutical company Ocular Therapeutix (NASDAQ:OCUL) fell 8.6% in the afternoon session after a surprisingly hot wholesale inflation report fueled investor concerns about persistent price pressures.
Shares of non-lethal weapons company Byrna (NASDAQ:BYRN)
fell 5.5% in the afternoon session after the company's stock fell amid a broader market downturn triggered by hotter-than-expected inflation data.
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A number of stocks fell in the afternoon session after a surprisingly hot wholesale inflation report fueled investor concerns about persistent price pressures.
A number of stocks fell in the afternoon session after the release of a stronger-than-expected Producer Price Index (PPI) for January, fueled concerns about inflation and its impact on consumer spending.
A number of stocks fell in the afternoon session after a surprisingly hot wholesale inflation report fueled investor concerns about persistent price pressures. The Producer Price Index (PPI), a key measure of inflation at the wholesale level, increased by 0.5% in January, significantly higher than the 0.3% anticipated by economists. More concerning was the core PPI, which excludes volatile food and energy prices, as it surged by 0.8%, far exceeding the expected 0.3% rise. This data suggests that inflation may be more entrenched than previously thought, potentially impacting future interest rate decisions. In response to the news, major market indices, including the S&P 500, Dow Jones, and Nasdaq, all traded sharply lower as investors reassessed the economic outlook.
A number of stocks fell in the afternoon session after a surprisingly hot wholesale inflation report fueled investor concerns about persistent price pressures.
A number of stocks fell in the afternoon session after the latest Producer Price Index (PPI) report showed a 0.5% increase in January, signaling persistent inflationary pressures that could impact operating costs.
A number of stocks fell in the afternoon session after the latest Producer Price Index (PPI) report showed a 0.5% increase in January, signaling persistent inflationary pressures that could impact operating costs.
A number of stocks fell in the afternoon session after the release of a stronger-than-expected Producer Price Index (PPI) for January, fueled concerns about inflation and its impact on consumer spending.
A number of stocks fell in the afternoon session after the release of a stronger-than-expected Producer Price Index (PPI) for January, fueled concerns about inflation and its impact on consumer spending.
A number of stocks fell in the afternoon session after a surprisingly hot wholesale inflation report fueled investor concerns about persistent price pressures.
