Fed minutes and inflation data drive Wall St gains, but Warren Buffett cautions against relying on statistics.
TL;DR Summary
The S&P 500 rose after the Federal Reserve's March policy meeting minutes revealed some members considered a pause in interest rate hikes amid the regional bank liquidity crisis. The minutes followed a cooler-than-expected inflation report, which belied stickier underlying data and cemented the likelihood of another policy rate hike when the Fed convenes next month. All three major US stock indexes were in positive territory, with cyclical sectors putting the blue-chip Dow in the lead. American Airlines slid 9.1% after it forecast a lower-than-expected Q1 profit.
- Wall St gains after Fed minutes, inflation data Reuters
- Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold CNBC
- Warren Buffett reacts to March inflation data: We don't profit from statistics and guessing CNBC Television
- Inflation is easing but most people say it's still too high The Washington Post
- Nasdaq, S&P, Dow slip into the red as initial enthusiasm from softer headline CPI wanes Seeking Alpha
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