"Inflation Data Spurs Tech-Led Rebound in Stock Market Today"
US stocks rebounded as tech stocks led the way after a cooler-than-expected reading on producer prices eased investor concerns about inflation. The Dow Jones Industrial Average was flat, the S&P 500 rose 0.6%, and the Nasdaq Composite gained roughly 1.2%. The 10-year Treasury yield traded around 4.57% after surging to its highest level since November on Wednesday. Analysts from Bank of America and Deutsche Bank pushed back their projections for Fed interest rate cuts to December, citing solid economic growth and hotter-than-expected inflation prints. Amazon CEO Andy Jassy highlighted the company's focus on generative AI in its annual shareholder letter, while Nvidia stock rose after analysts raised their price target. Oil prices retreated despite concerns of escalating tensions in the Middle East.
- Stock market today: Tech leads rebound after mixed inflation data Yahoo Finance
- Wholesale prices rose 0.2% in March, less than expected CNBC
- Producer prices come in softer than consumer prices in March The Hill
- US wholesale inflation heated up again last month CNN
- Stock Market Today: Dow, S&P 500 Climb After PPI Inflation Data Report The Wall Street Journal
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