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Informist, Wednesday, May 13, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Wall Street ends mixed; hotter-than-expected CPI print weighs

 

MUMBAI--0740 IST--The technology-driven rally on Wall Street snapped after a hotter-than-anticipated inflation report dampened sentiment. Consumer inflation rose to its highest level since May 2023, driven by elevated energy prices. Retail inflation rose 3.8% year-on-year, with the energy index rising 17.9% and the gasoline index up 28.4%. All major indices except the Dow Jones Industrial Average closed in the red.

 

On a monthly basis, inflation rose 0.6% in April after rsing 0.9% in March. Core inflation, which excludes volatile food and energy costs, went 2.8% year-on-year and 0.4% month-on-month. Inflation remains well above the Federal Reserve's 2% target. Further, inflation outpaced growth in paychecks. Hourly wages rose a seasonally adjusted 3.6% year-on-year through April, The Wall Street Journal reported. The benchmark 10-year treasury ticked up after the higher-than-expected inflation print.

 

"This is hurting Americans. There is a real financial squeeze underway. For the first time in three years, inflation is eating up all wage gains. This is a setback for middle-class and lower-income households and they know it," Heather Long, chief economist at Navy Federal Credit Union, told CNBC.

 

Among the magnificent seven stocks, four fell on Tuesday. Chipmakers also declined, with shares of Intel Corp., Micron Technology, and Advanced Micro Devices falling 3–7%. Qualcomm shares tumbled over 11%. 

 

The following were the closing levels of major US indices on Tuesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	49760.56	0.11
NASDAQ Composite	26088.203	(-)0.71
S&P 500	7400.96	(-)0.16

 

(Ruchira Kagita)

 

US$1 = INR 95.6275

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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