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US stock market report – inflation jumps but positive signs emerge

It was another negative day for US stock markets with all three benchmarks finishing 0.3% lower after another record inflation print.

According to reports, US consumer inflation rose 1.2% in March taking the annual rate to 8.5%, the highest since 1982.

But there were positive signs in the core print which excludes more volatile items, which finished ‘just’ 6.5% higher with many now suggesting a peak may have been reached. That is what the yield curve suggests at least after bond yields retreated on the news.

The major banks including JP Morgan (NYSE: JPM) all fell by more than 1% ahead of the beginning of an incredibly important but likely volatile reporting season.

Looking more closely at the inflation data and positive signs emerge, with used car and some other goods seeing price falls, but new car prices continuing to rise.

Goods inflation rose 8.1% whilst household furnishing gained just 1% due primarily to the high comparables in the prior month.

In positive signs, President Biden continues to seek alternative sources of fuel, releasing higher ethanol product in an attempt to dampen prices.

US stock market movers

Here’s how popular US stocks performed on Tuesday.

  • CrowdStrike (NASDAQ: CRWD) up 3.2%
  • Coca-Cola (NYSE: KO) up 1.2%
  • Apple (NASDAQ: AAPL) up 1.2%
  • Etsy (NASDAQ: ETSY) down 3.6%
  • Shopify (NYSE: SHOP) down 4.3%
  • Twitter (NYSE: TWTR) down 5.4%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is expected to edge lower when the market opens this morning. For a round-up of the latest news, check out my ASX 200 morning report.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Disclosure: At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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