Energy-Driven CPI Drop In May Contrasts With Persistent Core CPI: 5 Economists Speculate On Fed's Next Move
Portfolio Pulse from Piero Cingari
The inflation rate dropped to 4% YoY in May, lower than the 4.1% forecast, while core inflation came in at 5.3% YoY. The SPDR S&P 500 ETF Trust (NYSE:SPY) hit 13-month highs as risky assets reacted positively to the CPI report. Five economists speculate on the Federal Reserve's next move.
June 13, 2023 | 3:19 pm
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The SPDR S&P 500 ETF Trust (NYSE:SPY) hit 13-month highs as risky assets reacted positively to the lower-than-expected inflation rate in May.
The lower-than-expected inflation rate in May has led to increased investor confidence, resulting in a positive reaction for risky assets like the SPDR S&P 500 ETF Trust (NYSE:SPY). The ETF hit 13-month highs, indicating a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80