reading for April came in at 0.5%, above the 0.3% that economists polled by Dow Jones had expected. The initial market reaction was negative but stocks subsequently rose as March wholesale prices were revised down to show a 0.1% decline.Sign up for NBC LA newsletters.— CNBC's Lisa Kailai Han and Brian Evans contributed to this report.
"It's a problem that they've exacerbated by taking such a dovish tone and — as early as last year — letting the markets price in so many rate cuts," she said."They really need to get these markets to be more realistic on where interest rates are going to go."The market has reacted positively to negative economic surprises in recent times, but Citi believes this"bad news is good news" narrative will soon change.
He wrote in a Tuesday note that the event"ups the ante for AI assistant," adding that semiconductor stocks should see multiyear growth tailwinds from the computing and networking capabilities needed to appease the expanding artificial intelligence use cases.
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