Insiders Advisor
  • Stocks
  • World News
  • Business
  • Politics
  • Stocks
  • World News
  • Business
  • Politics

Insiders Advisor

Business

Dow slips for first losing day in nine as consumers’ expectations for inflation rise

by May 15, 2024
May 15, 2024
Dow slips for first losing day in nine as consumers’ expectations for inflation rise

The Dow Jones Industrial Average slipped on Monday, snapping an eight-day winning streak, as traders grappled with rising inflation expectations ahead of key reports due later in the week.

The 30-stock Dow fell 81.33 points, or 0.21%, to close at 39,431.51. The S&P 500 inched lower by 0.02%, ending at 5,221.42. The Nasdaq Composite added 0.29%, closing at 16,388.24.

A New York Federal Reserve survey showed consumers last month raised their expectations for price increases in both the near and long term. On a one-year basis, inflation expectations rose to 3.3%. Their five-year outlook ticked up to 2.8%.

Stocks gave back earlier gains after the survey results were issued. The numbers also come ahead of two key economic data releases.

The consumer price index report is slated for Wednesday. Economists expect an April increase of 0.4% month over month and 3.4% year over year, according to Dow Jones. The producer price index, due out Tuesday, is expected to have risen 0.3% last month.

Shares of meme stock GameStop soared 74% after “Roaring Kitty,” the moniker of the Reddit trader behind 2021′s short squeeze, posted online for the first time in three years.

The 30-stock Dow is coming off its best weekly performance of 2024, rising more than 2% last week. The S&P 500 and Nasdaq climbed more than 1% each during that period.

The major averages have clawed back to within reach of their record levels set in March following a brief pullback. The Dow, S&P 500 and Nasdaq are all within 1% of their closing highs.

This post appeared first on NBC NEWS
previous post
Comcast to bundle Peacock, Netflix and Apple TV+ at a ‘vastly reduced price’
next post
‘Country is in crisis’: House GOP unleashes on Dems with blistering ad marking 6 months until Election Day

Related Posts

It’s Elon Musk’s turn for a ‘fork in...

April 23, 2025

Fed Governor Christopher Waller sees central bank ‘getting...

July 17, 2024

65-year-old quit his job and emptied his life...

July 17, 2024

OpenAI in talks to pay about $3 billion...

April 17, 2025

Barcelona protesters throw items and spray travelers with...

July 10, 2024

The Fed’s preferred inflation measure rose 0.2% in...

June 1, 2024

Hurricane Milton could reduce Disney earnings, Goldman says

October 9, 2024

Starbucks’ new CEO will supercommute 1,000 miles from...

August 21, 2024

How crazy popcorn buckets became big business for...

February 19, 2025

Pennsylvania Sen. Casey warns Amazon, Target and Walmart...

June 24, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Latest News

    • Time for Israel to take out ‘head of the snake,’ target members of Iranian regime, says former IDF intel chief

      June 14, 2025
    • Israeli official vows ‘We have more surprises coming up’ for Iran following wave of airstrikes

      June 14, 2025
    • ‘All-in’: GOP lawmakers divided on US involvement as Trump pushes Iran for diplomatic end

      June 14, 2025
    • Democratic lawmakers criticize Israel’s defensive strikes against Iran’s nuclear sites

      June 13, 2025
    • Israel’s drone strikes in Iran show why US must halt China’s land grab here: experts

      June 13, 2025
    • Biden-appointed judge thwarts Trump’s attempt to clean house at consumer safety agency

      June 13, 2025

    Categories

    • Business (1,261)
    • Politics (5,976)
    • Stocks (904)
    • World News (457)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: insidersadvisor.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 insidersadvisor.com | All Rights Reserved