Austan Goolsbee
S&P 500, Dow rise on boost from big bank earnings
The S&P 500 rose and the Dow hit a record high on Friday, driven by gains in major banks following third-quarter results.
The S&P 500 rose and the Dow hit a record high on Friday, driven by gains in major banks following third-quarter results.
The Nasdaq and the S&P 500 hit record highs on Wednesday as strength in Nvidia and other mega stocks supported Wall Street’s winning streak.
The Producer Price Index, which tracks wholesale-level inflation, edged up to 2.1%, marking the biggest jump since April 2023.
A Labor Department report showed the PPI for final demand rose 0.2% in March, against forecasts of a 0.3% increase.
Eyes are on another hot inflation measure out today, the Producer Price Index