USA CPI (YoY) For April 3.4% Vs 3.4% Est.; 3.5% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Consumer Price Index (CPI) for April came in at 3.4% year-over-year, matching the estimated 3.4% but slightly lower than the prior 3.5%.
May 15, 2024 | 12:30 pm
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POSITIVE IMPACT
The USA CPI for April came in at 3.4%, matching estimates and slightly lower than the previous 3.5%. This indicates stable inflation, which could positively impact the SPY ETF as it suggests a stable economic environment.
The CPI data matching estimates and being slightly lower than the previous month suggests stable inflation. This stability is generally positive for the stock market, and by extension, the SPY ETF, which tracks the S&P 500.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80