There were plenty of inflation fears in the market before today, but the government’s April consumer prices report provided more proof that it’s actually out there. In addition, we’re not done with inflation data yet. The 50-day moving average got tested twice in March and held up both times. It’s now well below its 50-day moving average of 13,374, closing Wednesday near 13,000. The April consumer price index (CPI) rose 0.8%, vs. Wall Street’s benign expectation for 0.2%.

Source: Forbes May 12, 2021 21:22 UTC