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Stock Market Today – 4/11: Stocks End Lower With Inflation, Earnings in Focus
Stocks finished lower Monday, while Treasury bond yields and the dollar continued to test multi-year highs, as investors shift focus from the ongoing war in Ukraine to a busy slate of earnings and data releases in a holiday-shortened trading week. The Dow Jones Industrial Average finished down 413 points, or 1.19%, to 34,308, while the S&P 500, which is down 6% for the year, lost 1.69% and the tech-focused Nasdaq dropped 2.18%. With rents, used car prices and healthcare costs, which make up a massive portion of the underlying core CPE reading, continuing to rise, and energy and food prices holding onto to their recent multi-year increases — boosting headline readings — analysts are looking for a year-on-year inflation rate of 8.4% when the Commerce Department publishes its formal estimate at 8:30 am Eastern time on April 12.
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