Despite favorable inflation data for April, the markets displayed apprehension as they sought to digest its implications alongside trade developments between the U.S. and China. The annual inflation rate dropped to 2.3%, its lowest since 2021, which is promising for the economy. The Nasdaq Composite experienced mixed performances among tech giants, with some stocks like Coinbase showing significant gains. Ed Yardeni's revised projections highlight a lower probability of a U.S. recession, amidst successful tariff negotiations boosting optimism in the market.
The markets are stalling as they process the latest inflation data coupled with the trade progress between the U.S. and China.
The annual inflation rate fell to 2.3% in April, representing its lowest threshold since 2021.
Ed Yardeni has lowered the chances of a U.S. recession and raised his S&P 500 year-end target to 6,500, showcasing optimism in navigating tariff deals.
Coinbase is soaring by 15% after further validating the cryptocurrency industry with a spot in the S&P 500.
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