The S&P 500 broke 5,300 and joined the Nasdaq and Dow Jones ending the day at new record highs after the CPI print.
Just after 4 PM EST, the $S&P 500 Index traded up 1.17% past an all time high. The $Nasdaq Composite Index opened, setting an all-time closing high, and kept up a 1.40% climb to finish the day at 16,742.39.
The $Dow Jones Industrial Average (.DJI.US)$ reached a record 39,908.07, up 0.88%.
Meme stocks, to a name were pulling back, save for $NVIDIA (NVDA.US)$ and $Palantir (PLTR.US)$. Overall, 9000 equities advanced while 4100 declined.
In macro, CPI numbers for April came in right at expectations. Prices advanced 3.4%, and core prices advanced 3.6% in April compared to a year ago, and 0.3% month over month.
Tuesday, Producer Price Index numbers came in high, climbing about 0.5% month over month compared to expectations of 0.3%, and core expectations of 0.2%. Powell spoke Tuesday morning, and he said the oft repeated "higher for longer," mantra, despite a PPI print that he called "mixed."
This week, investors can expect CPI prints Wednesday. Multiple Federal Reserve Governors and FOMC members will speak, and investors will look for comments on rates and monetary policy.
Weekly Jobless Claims came in high at 231k last Thursday morning, inspiring new hope for rate cuts, with another weekly print to watch this Thursday.
The $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ was 4.73, the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ was 4.35.
Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
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