The SPDR S&P 500 ETF Trust (NYSE:SPY) struggled for direction this week following the release of encouraging inflation data and a weaker-than-expected consumer sentiment report.
On Wednesday, the U.S. Labor Department reported the consumer price index gained 4.9% in April, down from 5% in March and below the 5% inflation economists were expecting. Core CPI inflation, which excludes volatile food and energy prices, was up 5.5%, matching average economist estimates.
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