Stocks rose today, boosted by lower rates stemming from weaker than forecast inflation data as well as a rebound in Apple shares. The consumer price index, a widely followed inflation metric, rose .2% last month, which came below expectations of a .3% gain. Investors had grown fearful of rising inflation recently, as it could lead to tight monetary policy. The lower inflation read led to lower interest rates for the day which helped fuel the markets overall. At the end of the day, the major indices closed higher across the board:
DOW +147 at 26145
SP500 +15 at 2904
NASDAQ +59 at 8013
10 Year Treasury closed fl.at to yield 2.96%
Oil prices closed -1.58 at 68.79 a barrel
Gold prices closed -3.70 at 1207.20 an ounce
In the days’ stock news:
- Apple shares rose nearly 3% after the company unveiled three new iPhones and a revamped Apple Watch yesterday. AAPL closed +5.34 at 226.41.
- Advanced Micro Devices jumped more than 5% while Nvidia gained 1.4%.