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15 Sept 2021

U.S stocks Still Closed Low Following CPI Dip

The Index Today

The Declining Consumer-Price Inflation Report made little to no effect on U.S stocks as they still closed lower on Tuesday. Major corporations such as Apple and Macy’s warned of supply chain disruptions and how they will impact inflation, with factory-gate inflation recorded at the highest levels in 13 years.
On the other hand, consumer prices have started to slow down, showing a growth of only 5.3% per year since February. In June and July, headline inflation was reported at 5.4%.
Fed Chairman Jerome Powell and experts will utilize the upcoming month or two to carefully analyze inflation growth and determine upcoming policy.
However, some of the largest fund managers across the globe seem unaffected about Feds tapering plans as they continue to focus on muted corporate profits, slow growth and potential negative inflation. This information was gathered through a survey conducted by the Bank of America in September.
The S&P fell 0.57%, the Dow Jones Industrial Average closed at 0.84% whereas the Nasdaq Composite saw a decline of 0.45%.

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