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Advisors on This Week’s Show
- Adam Baley
- Kendall Bauer
- Steve Giles
- Engineered by Jason Scuglik
Market Closings for the Week
- Nasdaq – 26225, down 22 points or 0.1%
- S&P 500 – 7409, up 10 points or 0.1%
- Dow Jones Industrial Average – 49526, down 83 points or 0.2%
- 10-year U.S. Treasury Note – 4.60%, up 0.23 point
Inflation is soaring, and confidence remains fragile.
With an abundance of economic data this week we have a lot to cover. Here’s some of the key numbers:
-Consumer prices rose 3.8% year over year. Even stripping out volatile food and energy prices, core inflation rose 2.8%, which is well above our comfort zone.
-Producer prices soared 6% year over year, driven by surging oil costs. Soaring producer prices renew inflation worries as businesses are likely to pass those higher costs on to consumers in the coming months.
-Retail sales rose .5% last month, though largely driven by higher gasoline prices. However, online shopping by consumers showed resilience.
-industrial production and Business Inventories rose in April, both showing stability in consumer demand.