Dow finishes up 250 points in spite of inflation fears
The Dow opened down by triple digits today following the release of the much-anticipated Consumer Price Index report, which showed prices rose 1.7% from a year ago against analyst forecasts of 1.5%. It finished the day up 253 points, or about 1%.
Why it matters: Coupled with last week's news of increased wage growth—which caused all three major U.S. stock indexes to finish the five-day trading period down 5%, per CNBC—investors fear inflation will cause the Federal Reserve to hike up interest rates.
Below, we'll be tracking the Dow's movements throughout the day:
- 9:32am: 24,527.57 (down 113 points)
- 9:54am: 24,602.89 (down 38 points)
- 10:12am: 24,654.91 (up 14 points)
- 10:43am: 24,703.41 (up 63 points)
- 12:17pm: 24,642.80 (up 2 points)
- 1:15pm: 24,784.47 (up 144 points)
- 2:18pm: 24,836.16 (up 196 points)
- 3:38pm: 24,886.15 (up 246 points)
- 4:00pm: 24,893.49 (up 253 points)