News Formal

Stock market today: Nasdaq closes at record high, meme stocks surge again ahead of inflation data

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 23 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 63%

President Biden News

Nasdaq Composite,China Tariffs,The White House

Meme stocks soared again as US equities more broadly stayed muted in the countdown to fresh inflation data and a Jerome Powell speech.

Meme stocks soared again on Tuesday, as US equities finished the trading day higher. The moves follow comments from President Biden on new China tariffs as investors count down to Wednesday's heavily anticipated look into consumer prices. The S&P 500 and Dow Jones Industrial Average jumped about 0.5% and 0.3%, respectively. The tech-heavy Nasdaq Composite climbed about 0.8% to reach a new record close of 16,511 — the highest level since April 11.

That was according to the latest release of the Producer Price Index, which measures prices producers receive for goods produced. But the release also showed March's monthly price increase was revised lower to a decrease of 0.1% from an initial reading of a 0.2% increase. The mixed bag helped Wall Street largely shrug off the report. The more crucial reading of inflation is expected on Wednesday with the release of the Consumer Price Index.

 

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:

 /  🏆 47. in CA

Canada Canada Latest News, Canada Canada Headlines

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

GameStop stock gains more than 60% as meme-stock market returns with a vengeanceGameStop stock stock surged again early Tuesday, adding to a 74% rise on Monday as meme stocks appear to be back in vogue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

GameStop stock gains 60% as meme-stock market returns with a vengeanceGameStop stock stock surged again early Tuesday, adding to a 74% rise on Monday as meme stocks appear to be back in vogue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

GameStop stock gains nearly 100% as meme-stock market returns with a vengeanceGameStop stock stock surged again early Tuesday, adding to a 74% rise on Monday as meme stocks appear to be back in vogue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

GameStop stock gains more than 100% as meme-stock market returns with a vengeanceGameStop stock stock surged again early Tuesday, adding to a 74% rise on Monday as meme stocks appear to be back in vogue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »