Stocks Rebound After Inflation Scare While Banks Brace for Earnings Season
• US stocks rebounded on Thursday after Wednesday's hot inflation data sparked a sell-off. The Nasdaq gained 1.7% while the Dow rose 0.3%. Apple, Nvidia, and Amazon led the tech rally.
• Producer prices rose less than expected in March, easing some inflation fears after Wednesday’s hot consumer prices data. But annual growth hit nearly a 12-year high.
• Big bank earnings kick off Friday, marking the start of what investors hope is a strong earnings season to support stocks.
• Mortgage rates jumped again, with the 30-year fixed surging to 7.37%, further squeezing homebuyers.
• Fed rate cut hopes fade as banks push back forecasts to December amid resilient growth and still-hot inflation. Risks remain "two-sided" on policy outlook.