Investors are digesting another hot inflation report and forthcoming earnings from many of the big U.S. banks.
The consumer price index rose 8.5% in March from a year ago, according to a new Labor Department report released Tuesday, marking the fastest increase since January 1982, when inflation hit 8.4%. The CPI — which measures a bevy of goods ranging from gasoline and health care to groceries and rents — jumped 1.2% in the one-month period from January.
U.S. stocks were choppy, moving between negative and positive territory early Tuesday, April 12, 2022, as investors grew anxious over a new COVID-19 outbreak in China, the war in Ukraine and Federal Reserve plans to tighten monetary policy. In stocks, Apple could boost its dividend by 10%, according to the team at Citi, which also notes it may authorize a $90 billion stock buyback.
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