S&P 500 Drops as Yields Climb on Hot CPI — SkimNews
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- S&P 500 fell and Treasury yields rose after a hot CPI inflation report, per CNBC's live market coverage.
- Nasdaq and Dow futures had edged higher ahead of the CPI release per Yahoo Finance, then reversed once the data came in hotter than expected; the Wall Street Journal separately noted bank earnings were rolling in alongside.
Why it matters: A hotter-than-expected CPI print pushed Treasury yields higher, per CNBC. With bank earnings now rolling in per the Wall Street Journal, lender results offer the next immediate read on how the financial sector is positioned as inflation keeps upward pressure on rates.
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