News Formal

Stock market today: Meme rally roars as stocks stay muted in inflation countdown

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

Nasdaq Composite News

Producer Price Index,Consumer Prices,Wholesale Prices

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 more broadly stayed muted amid a mixed inflation reading, as investors counted down to Wednesday's more heavily anticipated look into consumer prices. The S&P 500 , Dow Jones Industrial Average and the tech-heavy Nasdaq Composite all hovered around the flatline in morning trading. New data on Tuesday showed wholesale prices increased 0.5% month-over-month in April, above the 0.3% consensus expected.

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. For his part, Fed Chair Jerome Powell said Tuesday that PPI was more "mixed" than "hot," reiterating during a question-and-answer session that he does not expect the central bank's next move to be a rate hike. Meanwhile, the meme-stock train rolled on.

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 NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

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 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 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 »