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US stocks traded mixed on Friday following a slate of economic data in the week.
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Investors took in two hotter-than-expected inflation reports.
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Markets and industry veterans still expect the Fed’s first rate cut to come in June.
US stocks traded lower on Friday, with investors assessing the outlook for Federal Reserve policy in light of two hotter-than-expected inflation reports this week.
On Tuesday, the Bureau of Labor Statistics reported that consumer prices accelerated 3.2% year-over-year in February, above consensus estimates for a 3.1% increase. On Thursday, the producer price index saw a similarly unexpected uptick of 0.6%, above the Dow Jones forecast for 0.3%.
Taken together, the readings muddy the “immaculate disinflation” aspiration that has gripped markets over the last several months. Futures markets still expect the Fed to make its first…
