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Forbes: Dow Adds Back 400 Points Despite Another Inflation Reading Blowing Past Expectations

Jonathan Ponciano | May 13 , 2021

In the run-up to their worst three-day stretch since October, stocks added back to the week’s massive losses Thursday (May 13) despite the Bureau of Labor Statistics revealing that the nation’s manufacturers paid steeper-than-expected prices last month-a cautionary sigh for consumer prices as inflation concerns continue to mount. 

"The increased demand driving prices higher is not necessarily a bad thing," Mace McCain, the chief investment officer at $5 billion (in assets) Frost Investment Advisors, said in a note Thursday. "Some inflationary pressures could be good for the market, bringing new capacity online more quickly and resulting in a more robust rebound. Increasing wages may also result in more productivity as the labor force returns to work.”

Excerpted from Forbes on May 13, 2021. To read the full article, click here.

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