5 days ago • Posted by Paul de La Baume
#Stocks whipsaw on hot US #Inflation data
US inflation printed at 8.3% in April from a year ago, versus 8.1% expected. Without food and energy prices, the core CPI rose 6.2%. Month over month, inflation increased 0.6%, stirred by the supply-chain crisis and the war in Ukraine. The 2-year Treasury yield shot up 10 basis points to 2.72% on the news, while stocks gave back all gains made in pre-market trading. Fed officials on Monday reinforced the Fed's message that half-point hikes are on the table for June and July. Investors will eye reports of Disney, Rivian and Beyond Meat after the market close.