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  • A measure of US inflation that is closely tracked by the Federal Reserve increased in April

    From apnews.com

    A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high. The index, which the Federal Reserve closely monitors, showed that prices rose 0.4% from March to April. That was much higher than the 0.1% rise the previous month. Measured year over year, prices increased 4.4% in April, up from 4.2% in March. The year-over-year figure is down sharply from a 7% peak last June but remains far above the Fed’s 2% target. Friday’s report from the government showed that despite rising prices, consumers remain buoyant. Their spending jumped ... (full story)

Am I losing my mind? How is todays data making the stock market absolutely f***ing rip? Shouldn't it be the opposite.

What other news was there I am unaware of?

Basically there is no rhyme or reason to it, eh
Quoting Niru
Am I losing my mind? How is todays data making the stock market absolutely f***ing rip? Shouldn't it be the opposite. What other news was there I am unaware of? Basically there is no rhyme or reason to it, eh
i have no idea, im looking for answers too
Quoting Marlonsadler
{quote} i have no idea, im looking for answers too
There was some news in the tech space about Nvidia which I believe made 13B dollars in revenue and is set to become a trillion-dollar company, which was possibly a catalyst that drove the market in terms of AI technology, etc. Also, I don't think all the exchanges did super well the past week (such as Russle which is not composed of tech).
NVDA, up 27% on massive earnings beat. Breadth of US stock market is very thin, if not for a handful of tech names, would be in a bear market all of 2023.
"If The Fool persists in his Folly he will become wise." - William Blake
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