An Hour Ago
Stocks on the move: Tesco gains 5%, Ocado dips 2.5%
Shares of Tesco rose 5% in afternoon deals as investors digested strong full-year earnings from the U.K. supermarket chain.
Meantime, British online grocery retailer Ocado dipped 2.5% in a sign of stiffening competition within the sector.
— Karen Gilchrist
An Hour Ago
U.S. stocks drop after hotter-than-expected inflation data
2 Hours Ago
U.S. dollar rises after hot inflation print
The U.S. dollar strengthened Wednesday after data showed U.S. inflation rose more than expected in March.
The dollar index was 0.65% higher at 2 p.m. in London.
The euro retreated 0.76% against the greenback to $1.0772, while the British pound was down 0.62% at $1.2597.
— Jenni Reid
3 Hours Ago
CPI rises more than expected in March
A key U.S. inflation metric came in hotter than expected, raising concern that the Federal Reserve may not cut interest rates this year.
The consumer price index rose 0.4% in March from the prior month. Year over year, it gained 3.5%. Economists polled by Dow Jones expected a 0.3% gain month over month and a 3.4% increase year on year.
The March CPI increase was a reacceleration from February, when it gained 3.2%.
Core CPI, which strips out volatile food and energy prices, also rose more than expected last month.
— Fred Imbert
3 Hours Ago
