11 Apr 2023 Market Close & Major Financial Headlines: Wall Street’s Three Main Indexes Close Higher Ignoring Producer Price Inflation
Summary Of the Markets Today:
- The Dow closed up 2 points or 0.01%,
- Nasdaq closed up 1.68%,
- S&P 500 closed up 0.74%,
- Gold $2,387 up $39.00,
- WTI crude oil settled at $86 down $0.65,
- 10-year U.S. Treasury 4.574% up 0.016 points,
- USD index $105.26 up $1.020,
- Bitcoin $70,533 up $826 (1.18%)
*Stock data, cryptocurrency, and commodity prices at the market closing.
Click here to read our current Economic Forecast – April 2024 Economic Forecast: Economy Marginally Improving But Growth Will Be Weak
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
The Producer Price Index for final demand increased 2.1% for the 12 months ended in March 2024 – significantly up from last month’s 1.6%. This was a significant increase, and futher undermines those that believe the Fed will cut its federal funds rate this year. For the 12 months ended in March, prices for final demand less foods, energy, and trade services increased 2.8%.
In the week ending April 6, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 214,250, a decrease of 250 from the previous week’s revised average. The previous week’s average was revised up by 250 from 214,250 to 214,500. From this data, you cannot see the economy slowing and continues to reinforce the strength of the labor market.
Here is a summary of headlines we are reading today:
- Plant Vogtle: Boon or Bust for the Future of U.S. Nuclear Power?
- European Gas Prices Soar As Russian Retribution Puts Kyiv in the Dark
- Texas Natural Gas Prices Are Negative As Drillers Chase Oil Sales
- OPEC Oil Production Inched Higher in March
- U.S. Imports of Mexican Crude Slump to Record Low
- S&P 500 closes higher in rebound from inflation-fueled sell-off; Apple and Nvidia pop: Live updates
- Why car insurance costs are skyrocketing and leading to higher inflation
- Wholesale prices rose 0.2% in March, less than expected
- S&P 500 futures are showing a bearish trend, here’s what chart analysts are saying about it
- Bitcoin rebounds above $70,000, and Uniswap says SEC warned of potential lawsuit: CNBC Crypto World
- Vietnamese property tycoon sentenced to death in country’s largest financial fraud, state media reports
- Israeli Media Says Iran Postponed Attack ‘At Last Minute’ Due To Threat Of US Intervention
- Long-term Treasury yields end at nearly five-month highs after March producer-price data
- The S&P 500’s rally is approaching a make-or-break moment
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.