Stocks were little changed Thursday, as the Dow Jones Industrial Average $Dow Jones Industrial Average DJI$ tried to reach a key milestone.
Shares of Walmart $Wal-Mart Stores, Inc. WMT$ were up more than 4% after the retailer reported better-than-expected quarterly results.
The three major averages closed at records on Wednesday, with the S&P 500 breaking above 5,300 for the first time.
That performance was helped by the April reading of the consumer price index, a broad measure of how much goods and services cost at the cash register, which increased 0.3% from the prior month. That was slightly below the Dow Jones estimate of 0.4%. Consumer prices still grew 3.4% from a year ago.
“The market is recognizing that the inflation dynamics look favorable,” Yung-Yu Ma, chief investment officer at BMO Wealth Management, told CNBC. “Combine that with some of the takeaways from the earnings season, which were pretty healthy earnings and favorable outlooks overall.”
Disclaimer:
The content is provided as general information only and should not be taken as investment advice. All the
contents shall not be taken as a recommendation to buy or sell any security or financial instruments. Any
action you take resulting from information, analysis, or commentary on this article is your
responsibility.
Please consult your investment advisor before making any investments.
