AllMarket Update
logoArgusMay 10, 2023

Market Update: ALB, CHD, ETN, ITGR, PEAK, NET

Basic Materials, Technology, Real Estate, Healthcare, Industrials, Consumer Defensive

Stocks were seesawing but mostly higher on Wednesday morning following cooler inflation data. The Labor Department said that its consumer price index rose 4.9% from the prior year in April, below the consensus estimate of 5.0% and down from 5.0% in March. The core CPI, excluding volatile food and energy costs, rose a higher 5.5%, in line with consensus and down slightly from the prior month. On the earnings front, Airbnb shares fell sharply, despite solid 1Q results, after the company issued disappointing revenue guidance.

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