"Today is the first time in a while when both growth and value stocks are doing pretty well. It's been either or for much of the last few weeks and today it's both," said Chuck Carlson, chief executive of Horizon Investment Services in Hammond, Indiana. "Breadth matters, and that's something investors like to see."
A host of economic data showed hints of waning inflation and an ongoing return to economic normalcy, even as supply constraints, complicated by hurricane Ida, hindered factory output.Import prices posted their first monthly decline since October 2020, in the latest sign that the wave of price spikes has crested, further supporting the Federal Reserve's position that current inflationary pressures are transitory.
Next week, the Federal Open Markets Committee's two-day monetary policy meeting will be closely parsed for signals as to when the central bank will begin to taper its asset purchases.Inflation People are seen on Wall Street outside the New York Stock Exchange in New York City, U.S., March 19, 2021. REUTERS/Brendan McDermid/File Photo
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