Bradley Valentin The U.S. Bureau of Labor Statistics released its consumer price index summary on 5/15. The CPI increased 0.3% in April, less than the 0.4% increase in March. Fortunately, there was a 0.0% change in food, but gasoline took a big it at a rise of 2.8%. Transportation services have been the biggest riser over the last 12 months at 11.2%. This could impact travel, vacations, etc. for the next few months. With summer in the U.S. quickly approaching, we could see more increased inflation in gasoline and transportation services.
Meanwhile, the markets have moved beautifully over the last couple of days. The S&P500 ended the day at $5,308 on 5/15 and ended at $5,297 on 5/16. DJI ended 39,914 on 5/15 and ended 5/16 at a respectable $39,872. Popular stock VOO (Vanguard S&P 500 ETF) continues to gain momentum. Closing at an all-time high of $485.97 on 5/16, VOO remains a strong ETF for those looking to stay away from risky meme stocks that are ultra-unpredictable.
For those who are interested in the continued speculation of AMC and GME, we can see the meme stocks come back to reality. AMC ended Thursday at 4.64, down from its high on 5/14 of $11.82. Meanwhile, GME plummeted back down to earth to $27.67. Please take continued caution when investing, and remember that meme stocks are a meme for a reason. For more information on investing in stocks, check out our breakdown “All About Stocks” here. If you’re looking for ways to stay away from risky investments, and instead want to build wealth responsibly, check out our Five Responsible Ways to Build Wealth.
As always, living financially free comes with discipline and education. Keep an eye out for more news on the market, and how it impacts you.
Additional Resources
All About Stocks – Nick Arrington
The Starter Budget
Five Responsible Ways to Build Wealth – Bradley Valentin
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