Advisors on This Week’s Show

Market Closings for the Week

Nasdaq – 26225, down 22 points or 0.1%
S&P 500 – 7409, up 10 points or 0.1%
Dow Jones Industrial Average – 49526, down 83 points or 0.2%
10-year U.S. Treasury Note – 4.60%, up 0.23 point

Inflation is soaring, and confidence remains fragile.

With an abundance of economic data this week we have a lot to cover. Here’s some of the key numbers:

-Consumer prices rose 3.8% year over year. Even stripping out volatile food and energy prices, core inflation rose 2.8%, which is well above our comfort zone.

-Producer prices soared 6% year over year, driven by surging oil costs. Soaring producer prices renew inflation worries as businesses are likely to pass those higher costs on to consumers in the coming months.

-Retail sales rose .5% last month, though largely driven by higher gasoline prices. However, online shopping by consumers showed resilience.

-industrial production and Business Inventories rose in April, both showing stability in consumer demand.