Market Update: BIIB, DGX, HD, ITRI, IGT

May 15, 2024 | blog


At noon Wednesday, the main benchmarks have been broadly greater amid a softer shopper inflation print for April and decrease bond yields. The Consumer Price Index rose 0.3% in April, decrease than the 0.4% consensus and matching the prior month’s 0.3% enhance. The year-over-year determine got here in at 3.4%, consistent with the consensus. Shelter inflation remained elevated in April, rising 5.5% on an annual foundation, with greater rates of interest making housing much less inexpensive. Prices for gasoline and insurance coverage additionally remained on the excessive aspect from the prior month, whereas shoppers obtained some reduction from falling costs for brand new and used vehicles in addition to family furnishings. After three consecutive month-to-month shopper inflation readings above expectations, the April report is a reprieve, though the Federal Reserve has stated will probably be on the lookout for a constant development towards the two% annualized stage earlier than decreasing rates of interest. Elsewhere, the Department of Commerce reported that retail gross sales in April have been flat with the prior month, under the 0.4% consensus and the

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