April CPI Exceeds Expectations, Bond Yields Rise

The April CPI data surpassing expectations indicates sticky inflation, weakening expectations for interest rate cuts. This could particularly pressure high-growth stocks. GOOGL stock already shows a technically weak outlook, with RSI approaching the oversold zone at 42, while MACD is below the signal line and in negative territory. The price is trading below the 20- and 50-day moving averages, which may act as resistance. In the short term, selling pressure is likely to persist, with the stock potentially pulling back toward the $380 level.

The April CPI data surpassing expectations indicates that inflation remains sticky, heightening concerns that the Fed may postpone interest rate cuts. The rise in bond yields is putting pressure on equity markets, increasing the likelihood of a short-term correction in the SPX. Technically, while the RSI at 58.6 is in neutral territory, the MACD falling below its signal line suggests a loss of momentum. Closing just above the 20-day SMA (7394) indicates that a break below this level could accelerate selling. However, since the market is not yet in oversold territory, the decline may remain limited.

The April CPI data surpassing expectations indicates that inflation remains sticky, heightening concerns that the Fed may postpone interest rate cuts. The rise in bond yields is a dampening factor for the NDX, which is heavily weighted toward growth stocks. Technically, while the RSI at 57 is in neutral territory, the price closing below the 20-day moving average (29,110) signals weakness. The MACD line remaining below the signal line also confirms negative short-term momentum. Therefore, the index is likely to sustain its downward trend in the coming days.

April CPI data exceeding expectations indicates sticky inflation, reinforcing the perception that the Fed may delay interest rate cuts. This environment pushes bond yields higher, supporting the DXY. Technically, while the RSI at 68 approaches overbought territory, the MACD line remains above the signal line, and the price trades above both the 20-day and 50-day moving averages. Short-term upward momentum may be sustained, but the elevated RSI level also brings the risk of a potential correction.