U.S. Stocks Under Pressure Following Latest PPI, Retail Sales Reports
U.S. stocks closed higher Tuesday, boosted in part by a rebound in bank shares following the collapse of Silicon Valley Bank and Signature Bank. Traders were also assessing yesterday's friendly inflation data, which was on target with pre-report expectations.
Tuesday's CPI report for February showed a 0.4% month-over-month rise, down slightly from January’s 0.5% month-over-month gain. On an annual basis, inflation slowed to 6.0% in February, down from 6.4% in January.
Traders are anxiously awaiting the Federal Reserve's decision on interest rates during next week’s monetary policy...
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