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Search resuls for: "Shreyashi Sanyal Shristi Achar A Carolina Mandl"


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The Labor Department's Consumer Price Index (CPI) rose 4.9% in April from a year ago and compared with expectations of a 5% increase. The lower-than-expected inflation data drove the Nasdaq Composite Index (.IXIC) up as much as 1.17% to its highest intraday level in more than eight months. The rate-sensitive S&P 500 technology sector index (.SPLRCT) rose 0.82%, while communication services (.SPLRCL) was up 1.21%. Declining issues outnumbered advancers on the NYSE by a 1.17-to-1 ratio; on Nasdaq, a 1.03-to-1 ratio favored advancers. The S&P 500 posted 14 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 71 new highs and 135 new lows.
For most of the day, stocks struggled for direction amid disappointing earnings from Tyson Foods and Catalent and a short-lived rebound in regional banks. The struggle for a clearer direction comes after a rally on Friday, when U.S. jobs data pointed to a resilient labor market. Producer prices, weekly jobless claims and consumer sentiment data are all lined up for the week. Shares of regional banks tumbled for much of last week on worries tied to the collapse of First Republic Bank. Warren Buffett's Berkshire Hathaway Inc's Class B shares rose after posting a $35.5 billion first-quarter profit, boosted by gains from stocks such as Apple.
The struggle for a clearer direction comes after a rally on Friday, when U.S. jobs data pointed to a resilient labor market. Producer prices, weekly jobless claims and consumer sentiment data are all lined up for the week. A rally in regional banks' shares proved short-lived, with PacWest Bancorp (PACW.O) rising 5.6% after gaining as much as about 30% earlier in the session after the lender sharply cut its quarterly dividend to boost capital. Shares of regional banks tumbled for much of last week on worries tied to the collapse of First Republic Bank. Warren Buffett's Berkshire Hathaway Inc's Class B shares rose 0.9% after posting a $35.5 billion first-quarter profit, boosted by gains from stocks such as Apple.
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