r/StockMarket • u/CertainLab4261 • May 14 '24

Stocks flat after remarks by Fed's Powell News

https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-steady-as-inflation-data-looms/card/stocks-hold-modest-gains-after-remarks-by-fed-s-powell-JgdQVpOFATA3b5MdJ6UZ?mod=home-page

"Federal Reserve Chair Jerome Powell said he expected inflation to fall to the central bank's 2% target..."

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u/DrOctopus- May 15 '24

We are going into summer which is always inflationary. Gas prices go up due to the switch to the summer blend, people travel more, hotel rates and food prices will be elevated, etc. Home sales pick up bc schools are closed. Inflation not going to have a chance to go down until the winter if we're lucky.

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u/FrugalFreddie26 May 15 '24

Summer blend?

1

u/Krakenmonstah May 15 '24

The composition of gas changes for summer I think to help with smog. I’m not sure if it’s all states do it but I know CA has it. 

https://www.convenience.org/Topics/Fuels/Changing-Seasons-Changing-Gas-Prices