The Nasdaq Composite was higher Wednesday as investors fled to tech stocks after a tamer-than-expected inflation report. The Dow fell 0.09% The S&P 500 rose 0.45% The Nasdaq climbed 1.04%
Over the past six months, the key index has gained as much as 6%, which the S&P 500 reached on the December CPI numbers reported in January. The index gained roughly 1% and 0.5% as well in February and March, respectively.The S&P 500 has performed reasonably well on CPI report days despite rising inflation, according to Bespoke Investment Group.
During the global financial crisis, regulators briefly banned short-selling on bank stocks. However, Treasury Secretary Janet Yellen told CNBC on Monday that the bar was high to implement another short-selling ban, which would be under the authority of the Securities and Exchange Commission.The latest reading on the U.S. consumer price index is slated for release Wednesday, with economists polled by Dow Jones expecting a year-over-year gain of 5% for April.
The pan-European Stoxx 600 index was up 0.1% around market open, led by a 0.9% uptick in bank stocks. Sectors were a mix of gains and losses, with health care down 0.4%.China April inflation expected to come in at 0.3%, lowest since Feb 2021
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