US stocks slip as investors await key inflation data

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

US stocks slipped into the close, stumbling away from record highs as investors await key inflation data out tomorrow. The yield on 10-year US Treasury declined five basis points to 1.49% “Like waiting for the first Star Wars movie sequel, investors are holding their breath for what is expected to be a blockbuster May CPI report,” said Sam Stovall, CFRA chief investment strategist. “Yet in the face of such ‘inflation certainty,’ the 10-year yield has fallen below 1.5%, possibly due to the DC gridlock that likely stamped ‘DOA’ atop the $1.7 trillion Biden infrastructure proposal and questions the need for further fiscal assistance.” , boosted by El Salvador’s historic move in becoming the first country to establish bitcoin as legal tender.

This in the country. deepening losses from the previous session after the electric-vehicle maker said it doesn’t have enough cash to start producing its Endurance truck and warned that it may have to shut down altogether. In more encouraging...read more...