Stocks were higher yesterday, and Apple hit a record high, as tepid inflation data eased worries of faster interest rate hikes this year.
The U.S. Labor Department's consumer price index increased 0.2 percent in April, less than economists' expectations, as rising costs for gasoline and rental accommodation were tempered by a moderation in healthcare prices.
Core CPI, which excludes food and energy components, edged up 0.1 percent in April, slower than the previous two months, and did little to alter traders' expectations of a June rate hike.
So far, 444 S&P 500 companies have posted earnings and those companies are showing profit growth of 24.5% from the same period a year ago and 9.3% growth in revenues. Almost 78% of those companies beat per-share earnings-per-share estimates, while 75% beat revenue estimates.
On the eve of Mother’s Day weekend, Americans are expected to spend $23 Billion on Mom this weekend or $180 apiece. It turns out that Mom doesn’t want the Brunch or the present. What she really wants is to be left alone according to a survey on the website Moneyish.