π Stock Market Today: SHLX, LMND, WEN and VIX - Here's what you need to know:
Inflation. worries: CPI in focus. Here's what is happening in the markets today, Wednesday, May 12th.
Here's what is happening in the markets today, Wednesday, May 12th.
The major indices continue to drop!
The VIX hit levels yesterday that haven't been seen in two months. The index traded as high as 23.73 intraday, as concerns about inflation spread to other areas of the market.
The Dow lost 473 points to end the day down 1.4%. The Nasdaq meanwhile rebounded from earlier losses of 2%, but the buy-on-dip crowd couldn't push the index into the green before the close.
Today, the highly anticipated CPI will be released. How is the CPI calculated? The measure uses a "basket of goods" approach that aims to compare the costs of various consumer goods and services. These can include transportation, food, rent, haircuts and medical care (80,000 items are included in the report). Each month, data collectors from the Bureau of Labor Statistics call, visit, or check the websites of thousands of retail stores, professional offices and other establishments to assess nationwide price information.
Operators of the Colonial Pipeline (SHLX) will know by late Wednesday whether it's safe to restart flows of fuel following a crippling cyberattack last week that shuttered the 5,500-mile conduit. Even when the pipeline is restored to full service, it'll take about two weeks for gasoline stored in Houston to reach East Coast filling stations, while heavier diesel and jet fuel will take even longer (about 19 days). The national average of retail gasoline prices has already risen above the politically sensitive level of $3 a gallon for the first time in six years, adding to broader inflationary pressures. More than 1,000 gas stations in the Southeast have reportedly run out of fuel, Florida and Virginia declare state of emergency over gas shortages:
Earnings News:
Lemonade (LMND) stock fell 7.1% after the online insurer offered up a lighter-than-expected current-quarter revenue forecast, while its first quarter loss was wider than expected.
Wendyβs (WEN) stock rose 5.4% after the fast food chain raised its annual forecast for earnings on Wednesday, betting that its breakfast menu, launched just before the lockdowns were announced last year, will bring in customers as restaurants reopen for dining after restrictions were eased.
This wraps up today's stock market news.
If you enjoyed the "Stock Market Today" video, make sure to subscribe to this podcast.
And for more stock market news, visit https://rockwelltrading.com.
The major indices continue to drop!
The VIX hit levels yesterday that haven't been seen in two months. The index traded as high as 23.73 intraday, as concerns about inflation spread to other areas of the market.
The Dow lost 473 points to end the day down 1.4%. The Nasdaq meanwhile rebounded from earlier losses of 2%, but the buy-on-dip crowd couldn't push the index into the green before the close.
Today, the highly anticipated CPI will be released. How is the CPI calculated? The measure uses a "basket of goods" approach that aims to compare the costs of various consumer goods and services. These can include transportation, food, rent, haircuts and medical care (80,000 items are included in the report). Each month, data collectors from the Bureau of Labor Statistics call, visit, or check the websites of thousands of retail stores, professional offices and other establishments to assess nationwide price information.
Operators of the Colonial Pipeline (SHLX) will know by late Wednesday whether it's safe to restart flows of fuel following a crippling cyberattack last week that shuttered the 5,500-mile conduit. Even when the pipeline is restored to full service, it'll take about two weeks for gasoline stored in Houston to reach East Coast filling stations, while heavier diesel and jet fuel will take even longer (about 19 days). The national average of retail gasoline prices has already risen above the politically sensitive level of $3 a gallon for the first time in six years, adding to broader inflationary pressures. More than 1,000 gas stations in the Southeast have reportedly run out of fuel, Florida and Virginia declare state of emergency over gas shortages:
Earnings News:
Lemonade (LMND) stock fell 7.1% after the online insurer offered up a lighter-than-expected current-quarter revenue forecast, while its first quarter loss was wider than expected.
Wendyβs (WEN) stock rose 5.4% after the fast food chain raised its annual forecast for earnings on Wednesday, betting that its breakfast menu, launched just before the lockdowns were announced last year, will bring in customers as restaurants reopen for dining after restrictions were eased.
This wraps up today's stock market news.
If you enjoyed the "Stock Market Today" video, make sure to subscribe to this podcast.
And for more stock market news, visit https://rockwelltrading.com.