Core inflation cools to three-year low
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 15 May 2024
⏱️ 1 minutes
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Summary
Stocks rise; inflation remains above Federal Reserve’s target; retail sales flat in April; homebuilder sentiment declines.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. |
| 0:05.4 | Stocks were feeling pretty upbeat on Wednesday. The Dow gained 9 tenths percent, |
| 0:09.9 | the S&P added 1 and 2 tenths percent, and the NASDAQ added 1 in 4 tenths percent. |
| 0:16.0 | Inflation cooled down in April from the month before, according to the Labor Department. |
| 0:20.0 | Over the last year, the Consumer Price index was up 3.6% after stripping out the volatile food and energy |
| 0:26.8 | categories. That's the smallest 12-month increase in three years. Rising shelter and gasoline costs made up more than two-thirds of the monthly increase. |
| 0:36.8 | Retail sales were flat in April from the month before, according to the Commerce Department, |
| 0:41.0 | spending rows on electronics, gasoline, and clothing. |
| 0:45.5 | And Home Builders, surveyed by the National Association of Home Builders, were less confident |
| 0:49.4 | in the housing market in May than in April. |
| 0:51.9 | That's mostly because of high mortgage rates and low |
| 0:54.1 | housing demand. I'm Justin Ho with the marketplace minute. You're going to. |
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