Tuesday’s trading session closed out in green territory. Brands such as General Electric, Cliffs Natural Resources and Micron Technology posted gains. Stocks lifted on a variety of economic news. The Bureau of Labor Statistics reported that the consumer price index ticked up by a less-than-expected 0.1% in May after slipping 0.4% in April. Economists were expecting a 0.2% increase. The core measure, which discounts food and energy, rose 0.2%, as anticipated, following a 0.1% jump the prior month. On another note, housing starts increased in May. Commerce Department data showed that new construction stepped up 6.8% to an annual rate of 914,000. Economist were expecting a rate of 950,000 for May.
Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.