The May consumer price index report came in hotter than expect | Stock Shiksha

The May consumer price index report came in hotter than expected, putting pressure on the stock market. The report showed prices rising 8.6% year over year, and 6% when excluding food and energy prices. Economists surveyed by Dow Jones were expecting year over year increases of 8.3% for the main index and 5.9% for the core index.

This is negative news for the market and hence US market closing is very important to expect near term bottom formation.