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U.S. Stocks Jump on Signs Inflation Slowed Last Month

Published 05/27/2022, 09:32 AM
Updated 05/27/2022, 09:52 AM
© Reuters.

By Liz Moyer

Investing.com -- U.S. stocks rose Friday after new data showed inflation slowed slightly in April, putting the Dow on track to snap an eight-week losing streak.

At  AM 10:30 ET the Dow Jones Industrial Average rose 262 points, or 0.8%, while the S&P 500 rose 1.6% and the NASDAQ Composite rose 2.4%.

The personal consumption expenditure index rose 6.3% over the year ended in April, cooling from March's 6.6% pace. The core personal consumption expenditures price index, which excludes food and fuel, rose 4.9% last month from the prior year, down from the gain of 5.2% for the prior month. The PCE is the Fed's preferred measure of inflation trends. 

Rounding out the retailer earnings this week, shares of Big Lots Inc (NYSE:BIG) fell 12% on Friday after the discount retailer fell short of expectations on sales and reported a surprise loss in the three months through April. 

Marvell Technology Group Ltd (NASDAQ:MRVL) stock rose 4% after offering guidance slightly above Wall Street’s expectations. Ulta Beauty Inc (NASDAQ:ULTA) stock rose 9% after beating expectations. Shares of Dell Technologies Inc (NYSE:DELL) jumped 12% after also beating expectations.

Oil was flat. Crude Oil WTI Futures traded around $113.73 a barrel, while Brent Oil Futures crude was near $114, down 0.1%. Gold Futures rose 0.3% to $1,853 per ounce.

Latest comments

Yayyyyy inflation slowed. Hahaha so so stupid. Turn keystone back the $&@: on!
To the illiterates complaining here:  Article doesn't say inflation went down.  It says inflation growth went down.
Ever since JPOW got another term to destroy the working class, stonks went up 10%
Inflation is a lagging indicator, not leading indicator. But, Michigan consumer sentiment is a leading indicator, down big time. It feels like the end of world is near.
Liz Moyer, you are absolute donkey
inflation is down, I can fill up the car...of course...food is so cheap.. oh that was a bad dream....
x2
excluding all the prices that had inflation there was no inflation.
Disappointing. Inflation never slow down. We hope the stock market can crash soon.
IMHO, the market is going up because the SP500 hit bear territory earlier in the week. Ince that happened, all the algos switched into crazy mode.
haha. INFLATION SLOWED LAST MONTH. HAHAHAHAAA
The lagging indicator does not matter. The leading indicator, Michigan consumer sentiment index, is down. Down is not up.
who believes inflation went down last month?
it is ok for me since my salary bumped up 25% this year. Beat inflation easily! :)
Easy work
Gas is almost $8 in some places and inflation slowed?! Shenanigans.
come on, $8 is above average gas price, which is $4ish.  it is not that bad. i dont see why others are complaining.. get a life!
US national average for regular gas is $4.60.  $4.59 a week ago.
casino..
but crude go up only...
this is madness!!!
American crooks only show the best circusssss
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