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Stock Market News, May 14, 2024: Nasdaq Hits New Record After PPI Inflation Data
GameStop, AMC shares rocket higher for a second day
Last Updated:
May 14, 2024 at 6:20 PM EDT
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Updated 16 days ago
Inflation Data Today: April PPI Rises Faster Than Expected
Are inflationary pressures abating? Investors got a fresh look into the matter with producer-price data this morning.
Some key points from Tuesday's producer-price index:
PPI rose 0.5% in April, topping the 0.3% forecast by economists polled by The Wall Street Journal.
Excluding volatile food and energy, core producer prices gained 0.5%, a faster rate than the 0.2% expected.
March's PPI was revised down to a 0.1% decline, from a 0.2% gain.