Wall Street slipped as investors reacted to the latest inflation figures, with Treasury yields seeing their biggest jump since December following Jerome Powell’s testimony. The Consumer Price Index revealed a significant rise in food prices, particularly eggs, adding to inflation concerns. Energy stocks slipped amid an inventory build, while CVS Health soared after its fourth-quarter profit signalled improvement. Gilead Sciences also gained on strong earnings, but Kraft Heinz fell short of expectations. Meanwhile, DoorDash shares jumped on an upbeat outlook, and iron ore prices rebounded due to supply concerns in Australia. Looking ahead, Domain Group is set to report earnings today, while Aussie shares are expected to open higher ahead of Treasury Wine Estates' results. The Aussie dollar is also recovering after US consumer prices rose more than anticipated.

The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

See omnystudio.com/listener for privacy information.