Breaking News
Investing Pro 0
Cyber Monday Extended SALE: Up to 60% OFF InvestingPro+ CLAIM OFFER

U.S. Stocks Fall on Investor Jitters About Persistent Inflation

Stock Markets May 13, 2022 00:24
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
XAU/USD
-0.28%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
US500
-0.12%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
+0.10%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DIS
+0.85%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AAPL
-0.34%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
Gold
-0.21%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Liz Moyer

Investing.com -- U.S. stocks opened lower as another set of government data added to investor concerns about persistently elevated inflation, even if the numbers show signs of slowing.

At 10:17 AM ET the Dow Jones Industrial Average was down 115, or 0.4%, while the S&P 500 was down 0.4% and the NASDAQ Composite was down 0.2%.

The Producer Price Index, which shows how much companies are getting for their goods and services out of the factory, rose 11% in April, a tick lower than the 11.5% gain in March, as the monthly rise in prices slowed to 0.5% from 1.2% in March. The monthly reading was in line with estimates. That mirrored the consumer price index from Wednesday, which also showed prices grew less than they did in the prior periods. But the readings are still elevated, and investors are worried that persistent inflation could encourage the Federal Reserve to act more aggressively on interest rates.

Shares of Beyond Meat Inc (NASDAQ:BYND) tumbled 27% after Barclays downgraded the faux meat maker to equal-weight from overweight, citing “limited visibility” on recovery after the company spent heavily on product launches and offered discounts.

Walt Disney Company (NYSE:DIS) shares fell 2% a day after the company reported earnings that showed subscriptions for its streaming service Disney+ beat expectations. Apple Inc (NASDAQ:AAPL) shares also shed 2%.

Oil prices dipped after the Organization of the Petroleum Exporting Countries cut its forecast for world oil demand this year because of Covid-19 lockdowns in China and the war in eastern Europe. OPEC said it now expects global demand to grow by an average of only 3.4 million barrels a day this year, down from a prior estimate of 3.7 million barrels.

Crude Oil WTI Futures was flat at $105.80 a barrel, and Brent Oil Futures crude was down 0.4% to $107.05 a barrel. Gold Futures fell 0.4% to $1845 an ounce.

U.S. Stocks Fall on Investor Jitters About Persistent Inflation
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email