Value stocks lag growth equities after U.S. CPI inflation report

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Value stocks were lagging growth equities on Wednesday, in a choppy trading session as investors assessed fresh U.S. inflation data for April.

Value stocks were lagging growth equities on Wednesday afternoon, in a choppy trading session as investors assessed fresh U.S. inflation data for April.

The iShares Russell 1000 Growth ETF IWF was up 1.1%, while the iShares Russell 1000 Value ETF IWD edged up 0.1%, according to FactSet data, at last check. The headline CPI numbers on inflation were “essentially flat,” he said. The pace of inflation eased to a year-over-year rate of 4.9% in April, from 5% in March. So-called core inflation, which excludes energy and food prices, cooled slightly to a rate of 5.5% over the past 12 months, from 5.6% in March.

The Fed has been battling stubbornly high inflation by rapidly raising rates over the past year. Although some investors have been anticipating rate cuts later this year, Orlando disagrees, saying the stock market will probably have to readjust those expectations. U.S. stocks were trading mostly higher late afternoon Wednesday, with the S&P 500 SPX up 0.5%, technology-heavy Nasdaq Composite COMP climbing 1.2% and the Dow Jones Industrial Average DJIA slipping 0.1%, according to FactSet data, at last check.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news today: April CPI report, debt ceiling limit top of mindUS stocks trade mixed as investors prepare for April inflation data and debt ceiling showdown
Source: BusinessInsider - 🏆 729. / 51 Read more »

Trading CPI: What JPMorgan sees the market doing Wednesday on these scenariosThis will be the first CPI report since the Federal Reserve's meeting last month, when the central bank hiked rates by another 25 basis points.
Source: CNBC - 🏆 12. / 72 Read more »