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

Stock Markets May 27, 2022 09:52AM ET
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© 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.

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

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Comments (17)
Nickquick Nickquick
BorgataAa May 27, 2022 11:11AM ET
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Yayyyyy inflation slowed. Hahaha so so stupid. Turn keystone back the $&@: on!
First Last
First Last May 27, 2022 10:58AM ET
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To the illiterates complaining here:  Article doesn't say inflation went down.  It says inflation growth went down.
Matt Kay
Matt Kay May 27, 2022 10:51AM ET
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Ever since JPOW got another term to destroy the working class, stonks went up 10%
Kerry Ditto
Kerry Ditto May 27, 2022 10:50AM ET
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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.
Matt Kay
Matt Kay May 27, 2022 10:50AM ET
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Liz Moyer, you are absolute donkey
Albi Ai
Albi Ai May 27, 2022 10:36AM ET
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inflation is down, I can fill up the car...of course...food is so cheap.. oh that was a bad dream....
Márcio Ramos
Márcio Ramos May 27, 2022 10:36AM ET
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Laurent Chavey
Laurent Chavey May 27, 2022 10:35AM ET
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excluding all the prices that had inflation there was no inflation.
CT OREN
CT OREN May 27, 2022 10:35AM ET
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Disappointing. Inflation never slow down. We hope the stock market can crash soon.
Robert Cox
Robert Cox May 27, 2022 10:24AM ET
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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.
Elvis Durant
Elvis Durant May 27, 2022 10:23AM ET
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haha. INFLATION SLOWED LAST MONTH. HAHAHAHAAA
 
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