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.
Malaysia Malaysia Latest News, Malaysia Malaysia 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 »
Source: CNBC - 🏆 12. / 72 Read more »