The Morning with Maria panel examines March core CPI, expected Fed rate cuts, and the overall market outlook.
U.S. stocks fell across the board as better-than-expected inflation data dampened hopes for a June interest rate cut by the U.S. Federal Reserve.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| Me: DJI | Dow Jones Average | 38380.61 | -503.06 | -1.29% |
| SP500 | S&P500 | 5148.71 | -61.20 | -1.17% |
| I:Comp | Nasdaq Composite Index | 16119.831404 | -186.81 | -1.15% |
The Dow Jones Industrial Average fell more than 500 points after Wednesday morning’s data, before paring some of the decline. The Nasdaq Composite and S&P 500 also fell.
Government bond yields soared, with the 10-year bond yield reaching 4.5% for the first time in 2024, while the two-year bond yield remained just below 4.9%.
Inflation intensifies in March
Dow Jones Industrial Average
Why are groceries still so expensive?
The consumer price index in March increased at an annual rate of 3.5%, and increased by 0.4% from the previous month. Both exceeded economists’ expectations. Core prices increased by 3.8% annually. Rent rose 5.7% and food prices rose 1.2% annually. Lettuce prices rose 5.8%, and beef and veal prices rose 7.6%.
78% of market participants expect the Fed to keep interest rates unchanged at its June meeting, and 54% expect the same in July. CME’s FRB monitoring tool.
CLICK HERE TO GET FOX BUSINESS ON THE GO
