Stock Market Performance and Economic News
Nasdaq reaches record high as Powell reassures investors; U.S. producer prices rise in April; investors await Consumer Price Index report; tech stocks perform well; Home Depot and Alibaba shares decline; Biden announces tariff increases on Chinese imports; GameStop shares rally; AMC Entertainment and Koss Corp also see gains.
Key Points
- U.S. producer prices rose in April
- Investors awaiting Consumer Price Index report
- Stocks rally due to better-than-expected earnings and rate cut expectations
Pros
- Nasdaq reaches record high
- Powell reassures investors about interest rates
- Tech stocks perform well
- GameStop shares rally
Cons
- Home Depot and Alibaba shares decline
- Steep tariff increases announced on Chinese imports by Biden