S&P Spikes Following Mostly In-Line Apr. CPI Data
Portfolio Pulse from Benzinga Newsdesk
The S&P 500 experienced a spike following the release of April's Consumer Price Index (CPI) data, which was mostly in line with expectations.
May 15, 2024 | 12:31 pm
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The SPDR S&P 500 ETF (SPY) saw a spike in its price following the release of April's CPI data, which was mostly in line with market expectations.
The CPI data being in line with expectations suggests stability in inflation, which is generally positive for the stock market. As a result, the SPY, which tracks the S&P 500, experienced a price increase.
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