Stocks Head Lower After CPI Report; Axon, ARES, CAVA In Focus
Listen now
Description
Sellers hit stocks hard after core consumer prices on a year-over-year basis came in hotter than expected for the fourth straight month. The 10-year Treasury spiked 19 basis points to 4.56%.  Declining stocks outnumbered advancers on the Nasdaq by nearly 4-to-1, but buyers lifted the index off lows by the close. Axon and Ares Management are both forming flat bases, while Cava is in an alternate buy zone.
More Episodes
The 10-year Treasury yield rallied a bit after the minutes from the May 1 Fed meeting were released. Just after the close, the yield was trading around 4.43%, up 2 basis points. Oil and gas stocks lagged badly, along with metals and mining stocks. Loar Holdings followed through after clearing an...
Published 05/22/24
The major indexes had another quiet session, as investors await Nvidia earnings. But leading stocks continue to fare well. Eli Lilly broke out while Microsoft flashed a buy signal. Ares Management tumbled Tuesday on investor day, but pared losses to hold the buy zone.
Published 05/21/24
Published 05/21/24