Stock futures jumped following Consumer Price Index data that came in near expectations — and more in Tuesday’s stock market recap.
Consumer prices rose 8.5% in March, slightly higher than the 8.4% projections and the highest level since 1981.
That might sound scary, but when you exclude food and energy, core inflation rose 6.5%, putting it in line with expectations.
Energy made up the bulk of the increase, with prices rising 11% in March and 32% year over year. This was due in part to the spike in oil prices in early March as a result of the Russia-Ukraine war.
Futures for the tech-heavy Nasdaq gained 1.6% as the markets reacted well to the news.
In this morning’s stock market recap video, you'll learn what to expect from the market following the CPI report… an update on the 11 major sectors and which one remains in the lead… key levels for the major indices… why Basic Materials is outperforming Energy right now… and the top 3 energy stocks to focus on.
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