Consumer Inflation +0.6%

This morning, the CPI for April came in at +0.6%, which topped forecasts by 0.1%. The core rate was 0.3%, which was also 0.1% higher-than-expectations.
The market is not taking this well. Gold is up strongly in what looks to be its largest jump since 9/11. Gold reached $730 an ounce last week, but had fallen back.
Hewlett-Packard (HPQ) had a great earnings report yesterday. Profits for its second quarter jumped 51%, and earnings from the PC division rose 69%. Even AMD (AMD) got a little rise out of the report. H-P also said that it will consolidate 85 data centers into six large centers. The move should help the company save $1 billion.
Dell (DELL) reports tomorrow after the close.

Posted by on May 17th, 2006 at 9:01 am


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