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Inflation Trap? Stock Market's Near-Record Run Faces the Most Crucial CPI Reading of 2024
These ideas could help protect your portfolio from stubborn levels of inflation. U.S. stocks could run into a mousetrap en route back to record territory, with this week's reading of consumer prices potentially being the year's most consequential.Inflation in the past three months has been out of whack with the Federal Reserve's goal of achieving a 2% annual rate, with energy and housing costs helping push the consumer-price index, or CPI, for March up to 3.5% yearly rate."When the Fed says it is data-dependent, every time there is a data release, it is potentially a market-moving event," said Matthew Bartolini, head of SPDR research at State Street Global Advisors.Stocks and bonds rallied last week, with the S&P 500 index SPX ending Friday up 1.9% for the week at 5,222.68, or 0.5% off its record close in late March, according to Dow Jones Market Data.Foot traffic data for Home Depot indicates a 1.1% decline in visits in the fi
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