Hot US Inflation Erases $300 Billion From Stocks at Open, Pushes Bitcoin Below $80,000
U.S. stocks erased more than $300 billion in value at the open and Bitcoin fell below $80,000 after April inflation came in at 3.8%, prompting investors to pare back expectations for Federal Reserve rate cuts and halting a recent rally in risk assets.
Earlier data showed the consumer price index rose 0.6% from March and 3.8% from a year earlier, above forecasts and the highest reading in three years. Core CPI, which excludes food and energy, increased 0.4% on the month and 2.8% from a year earlier, while gasoline accounted for more than 40% of the monthly increase and shelter and food also pushed prices higher.
From the sources (25 posts)
@reutersbizUS consumer prices likely rose at a solid pace for a second straight month in April, which would result in the largest annual increase in inflation in more than 2-1/2 years and further bolster expectations the Federal Reserve would keep int
@reutersUS consumer prices likely rose at a solid pace for a second straight month in April, which would result in the largest annual increase in inflation in more than 2-1/2 years and further bolster expectations the Federal Reserve would keep int
@reutersUS consumer inflation expected to have increased further in April amid Iran war
@kalshiBREAKING: US inflation rises to 3.8%, above expectations of 3.7%
@polymarketNEW: April CPI inflation surges to 3.8%, its highest level in three years.
@byheatherlongJUST IN: U.S. inflation jumped to 3.8% (y/y) in April--> the highest in three years. This is painful for Americans, especially moderate-income households. Inflation rose 0.6% in the month of April due to soaring gas prices that accounted f
@byheatherlongJUST IN: Inflation is now eating up all wage gains for the first time in about three years. This is painful for Americans and a true financial squeeze. CPI Inflation in past year: 3.8% Wage gains: in past year: 3.6%
@gasbuddyguyInflation picking up steam, new CPI data shows inflation index up 3.8% from a year ago as gasoline prices are up 44% nationally from a year ago, diesel up 61%.
@dkthompRT @JosephPolitano: NEW: US CPI inflation rose to 3.8% year-on-year in data released this morning, hitting the highest level since 2023 whi…
@byheatherlongIt's not just gas prices going up... Grocery prices and electricity also jumping. These are the basic costs for most Americans.
@staunovoRT @GasBuddyGuy: Inflation picking up steam, new CPI data shows inflation index up 3.8% from a year ago as gasoline prices are up 44% natio…
@staunovoRT @zerohedge: CPI highlights: MoM energy rose 3.8% in April, accounting for over forty percent of the monthly all items increase. The she…
@steve_hankeThe U.S. Consumer Price Index jumped from 3.3%/yr in March to 3.8%/yr in April. As I've been saying, the U.S. inflation genie is not going to be put back in the bottle any time soon.
@kevrgordonWith headline inflation coming it at +3.8% y/y in April, that means real average hourly earnings growth (adjusted for CPI) slipped into negative territory for the first time since April 2023
@byheatherlongAmericans are trying to work more hours to keep up as gas and food prices rise. Even so, real average weekly earnings **Decreased** in April as inflation ate up all the wage gains and extra hours worked. Real weekly earnings for all work
@kevrgordonCPI food at home (essentially grocery prices) jumped by 0.68% m/m in April ... largest increase since August 2022
@lizannsondersApril y/y CPI #inflation +3.8% vs. +3.7% est & +3.3% prior … core CPI +2.8% vs. +2.7% est.& +2.6% prior
@staunovoRT @LiveSquawk: US CPI (M/M) Apr: 0.6% (est 0.6%; prev 0.9%) - CPI (Y/Y): 3.8% (est 3.7%; prev 3.3%) - Core CPI (M/M): 0.4% (est 0.3%; prev…
@kevrgordonBoth headline and core CPI a bit hotter than expected in April ... core (shown in the chart) at +2.8% y/y vs. +2.7% est.
@lizannsondersIn month/month terms, April CPI #inflation +0.6% vs. +0.6% est. & +0.9% prior … core CPI +0.4% vs. +0.3% est. & +0.2% prior
@kevrgordonOver the past 3 months, core CPI has increased at an annualized pace of +3.2%
@kevrgordonSupercore CPI +3.38% y/y in April
@deitaone*US APRIL CONSUMER PRICES RISE 0.6% M/M; EST. +0.6% *US APRIL CONSUMER PRICES RISE 3.8% Y/Y; EST. +3.7% *US APRIL CORE CPI RISES 0.4% M/M; EST. +0.3% *US APRIL CORE CPI RISES 2.8% Y/Y; EST. +2.7%
@wallstengineAPRIL U.S. 🇺🇸 INFLATION DATA: CPI 3.8% YoY, (Est. 3.7%) CPI 0.6% MoM, (Est. 0.6%) Core CPI 2.8% YoY, (Est. 2.7%) Core CPI 0.4% MoM, (Est. 0.3%)
@thestalwartBREAKING: CORE CPI RISES 0.4%, HEADLINE RISES 0.6%. Economists had expected a 0.3% core MoM increase