The stock market ended its five-week winning streak, with S&P 500, Dow Jones, and Nasdaq all closing lower. Inflation concerns rose as the higher-than-expected Producer Price Index reduced hopes for lower interest rates. Treasury yields rose to 4.28% as investors adjusted to expectations.
Despite the pullback, the earnings outlook remains positive, with the market near record highs. The S&P 500 fell 0.5%, the Dow Jones 0.4%, and the Nasdaq 0.8%. The 10-year the Volatility Index (VIX) increased slightly to 14.24, and the energy sector performed well, while communications and transportation lagged.
