Posted 4/11/2024, 2:00:37 PM
Stocks Mixed on Inflation Data; Oil Rises on Iran Tensions; Amazon Plans Rattle Chipmakers
- US stocks wobbled after cooler-than-expected PPI data soothed worries from hotter CPI reading day prior
- Oil prices rose on escalating Iran tensions though pared gains; crude futures still near multi-month highs
- Amazon CEO announced plans to use own AI chips, spooking Nvidia investors
- Fed's Williams still expects rate cuts "starting this year" despite "bumps" in inflation data
- Investor appetite to own stocks has fallen sharply as rate cut hopes dialed back per JP Morgan survey