{"id":132559,"date":"2021-07-17T22:19:40","date_gmt":"2021-07-17T22:19:40","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132559"},"modified":"2021-07-17T22:19:40","modified_gmt":"2021-07-17T22:19:40","slug":"prices-are-going-up-on-almost-everything-heres-why","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/prices-are-going-up-on-almost-everything-heres-why\/","title":{"rendered":"Prices are going up on almost everything. Here&#39;s why"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite>Consumers were spending like mad last month, but investors don&#8217;t seem too impressed. Stocks ended Friday in the red, even though the government reported a solid rebound in retail sales for June. <\/p>\n<p>The Dow dropped nearly 300 points, a loss of about 0.9%. Oil stocks and banks led the way down, with <span>Chevron<\/span> <span>(<span>CVX<\/span>)<\/span>, <span>JPMorgan Chase<\/span> <span>(<span>JPM<\/span>)<\/span> and <span>Goldman Sachs<\/span> <span>(<span>GS<\/span>)<\/span> among the bigger Dow losers. The S&amp;P 500 and Nasdaq each fell about 0.8%.<br \/>\nInvestors appear to be nervous about a weaker-than-expected reading on consumer confidence from the University of Michigan. The reading for July was down from a month earlier.<\/p>\n<ul><\/ul>\n<p>Still, consumers aren&#8217;t always the most reliable judges of what&#8217;s next for the economy. Sentiment is a tricky thing that often follows news headlines and the state of the stock market. Actions, such as retail sales, which show real spending, are often more reliable barometers.<\/p>\n<ul><\/ul>\n<p>Consumers have been overly bullish just before economic or market meltdowns. That was the case in January 2000. Consumer confidence hit a then record high just as tech stocks were about to implode. Sentiment was also at a high level in 2007 before the housing market crashed.<\/p>\n<ul><\/ul>\n<p>But despite Friday&#8217;s drop, the Dow and the S&amp;P 500 finished the week just slightly lower, and not far from their record highs. The Nasdaq fell nearly 2% over the past five days.<br \/>\nBitoech <span>Moderna<\/span> <span>(<span>MRNA<\/span>)<\/span> was a bright spot Friday, surging more than 10% following the news that the Covid-19 vaccine maker is being added to the S&amp;P 500.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/07\/16\/investing\/dow-stock-market-today\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)Consumers were spending like<\/p>\n","protected":false},"author":3,"featured_media":132558,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prices are going up on almost everything. 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