Producer Price Index (PPI) data came in hotter than expected, sending the 10-year Treasury yield soaring to 4.46% in a massive single-session move. While the S&P 500 reached a record high, the Nasdaq saw declines, particularly in chip stocks, amidst warnings of extreme valuations reminiscent of the dot-com bubble. Geopolitical tensions stemming from the Iran war continue to push oil prices above $100/barrel, contributing to inflation.
📷 U.S. Bureau of Labor Statistics logo, referencing PPI data release. — Wikimedia Commons