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- Yahoo Finance Video
S&P 500, Nasdaq touch record highs on cooling inflation data, Cisco earnings on tap: Yahoo Finance
Both the S&P 500 (^GSPC) and the Nasdaq (^IXIC) hit new intraday highs after the April Consumer Price Index report showed further signs that inflation is cooling. Consumer prices rose 3.4% from a year ago. Core CPI, which strips out more volatile food and energy prices, rose 3.6% year-over-year. Both pieces of data were in line with economists’ estimates. One stock investors are watching today is Cisco (CSCO). The tech giant reports its fiscal third quarter results after the market close. Trending tickers on Yahoo Finance include Nvidia (NVDA), Super Micro Computer (SMCI), and Dell Technologies (DELL). Top guests today include: 3:05 p.m. ET - Angelo Kourkafas, Edward Jones Senior Investment Strategist and José Torres, Interactive Brokers Senior Economist 3:35 p.m. ET - Kevin Paffrath, Financial Analyst & YouTuber "Meet Kevin" 3:45 p.m. ET - Tyler Rosenlicht, Portfolio Manager for Global Listed Infrastructure at Cohen & Steers and Maheep Mandloi, Mizuho Securities USA Director, Clean Energy Equity Research 4:25 p.m. ET - William Kerwin, Morningstar Equity Analyst, Technology
- Yahoo Finance Video
Is April CPI sending signals to markets about any rate cuts?
The Consumer Price Index (CPI) data came out Wednesday morning, with the inflation reading coming in lower than expected for the month of April. Portfolio Wealth Advisors President and CIO Lee Munson joins Wealth! to provide his insights on the market outlook amid this print that points to cooling inflation. Munson views the CPI print as positive for markets (^DJI, ^IXIC, ^GSPC), stating that "it suggests we might get some [interest rate] cuts" from the Federal Reserve. However, he notes that rate cuts are not expected to materialize until after the election, describing them as "delayed, it's not completely off the table." If the Fed were to cut rates, Munson expects a broadening out in the market. He anticipates this move to extend beyond just large growth stocks with massive revenues, saying he expects to see "a very different dynamic" than what occurred in markets pre-COVID. Regarding cooling inflation, Munson maintains that the labor market and wage growth continue to be an issue. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith
- Yahoo Finance Video
CPI was a 'Goldilocks, kick-the-can' print for Fed: Strategist
As Consumer Price Index (CPI) data for April fell mostly in line with expectations, many on Wall Street are once again speculating about how the Federal Reserve may adjust its monetary policy. RBC Capital Markets Head of US Rates Strategy Blake Gwinn joins The Morning Brief to discuss how the recent CPI print may affect the Fed's decision making. "I think it's very much kind of a Goldilocks, kick-the-can type of print for the Fed. But I think the retail sales, the softness we saw there certainly a bit of relief for the Fed and I think it's what markets wanted to see to kind of continue, this very, very modest rally that we've seen over the last week." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino
