The S&P 500 shot up after the 8:30am Producer Prices Index Report coming in less than expected. The report came in at 0.2% vs. 0.4% expected, welcoming risk off behavior due to peak inflation.
The gains after the report held steadily above 1% until a report from the Associated Press (AP) came out revealing Poland was hit by Russian missiles. The S&P 500 gave up gains after the report came out, falling around 0.4% at its low.
Despite the report from the AP, the S&P 500 still ended the day positive with a gain of 0.5%.
Chart of S&P 500 throughout the trading day.
Let’s see what happens tomorrow!
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