Biggest business news for the day

The primary focus of business news on April 15, 2024, was on the economic data released that day and its impact on the stock market.

Key Points:

• Stock Market Decline: The S&P 500 experienced a downturn due to factors like increased consumer spending and rising Treasury yields.

• Economic Indicators: The day saw the release of crucial economic data including consumer spending, industrial production, and housing starts. These figures provided insights into the overall health of the economy.

• Inflation Concerns: Higher-than-expected inflation numbers led to concerns about interest rate hikes, further impacting the market.

• Company Earnings: While not the primary focus, some companies released earnings reports, which could have influenced their respective stock prices.

Key Earnings Reports:

• Goldman Sachs (GS): Reported a significant increase in earnings due to strong performance in fixed-income and equity trading.

• Other Banks: Several other banks, including Bank of America, also released earnings reports during this period.

Overall Impact:

While these earnings reports were important for the respective companies and their investors, they did not overshadow the broader economic factors influencing the market on April 15, 2024, such as inflation concerns and rising interest rates.