The market simmered from all-time highs Thursday morning to close lower with 7000 decliners compared to 5900 advancing equities. Still, the $Dow Jones Industrial Average (.DJI.US)$ burst through 40k for the first time, and traded -0.1% at the time of the closing bell.

The $S&P 500 Index (.SPX.US)$ fell 0.21% after hitting an all-time high close Wednesday and setting a new record Thursday morning at 5325.46. The $Nasdaq Composite Index (.IXIC.US)$ fell 0.26% and hit an all-time intraday high at 18,797.83.

MACRO

In Macro, U.S. initial jobless claims declined by 10,000 to 222,000 in the week ending May 11, compared to market estimates of 220,000. Cleveland Federal Reserve President Loretta Mester also spoke on Thursday and echoed the sentiments delivered by many central bank officials in recent weeks, saying essentially that if monetary policy isn't broken, don't fix it.

"In my view, the most likely scenario for the overall economy and that of the region is that the current restrictive stance of monetary policy will continue to help moderate growth and labor market conditions and that this moderation will contribute to the further easing of price pressures," Mester said Thursday in a speech prepared for delivery to the Wayne Economic Development Council.

Wednesday, 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.

The $U.S. 2-Year Treasury Notes Yield was 4.38, the $U.S. 10-Year Treasury Notes Yield was 4.38.

Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See thislinkfor more information.