(GSPC) The S&P 500 Saw Further Losses On Wednesday Amidst Retailers Earnings Reports, Pound Sterling CPI Inflation Data Exceeds Expectations| FXMAG.COM

Summary:

Retailers earnings reports weighing on investor sentiment, causing the S&P 500 to fall.
The GBP may see some relief.

S&P 500 loses value.

After a series of disappointing first quarter earning results from a number of retailers, the broader market has faced negative market sentiment. The poor results confirms the market's concerns regarding the rising inflation and the impact it is having on corporate profits.

Earlier in the trading week, it seemed as though investor confidence was improving, the retailers earnings reports have counteracted that hopefulness. The poor performance from these major retailers has caused the S&P 500 stock price to fall almost 3% on Wednesday.

(GSPC) The S&P 500 Saw Further Losses On Wednesday Amidst Retailers Earnings Reports, Pound Sterling CPI Inflation Data Exceeds Expectations - 1

S&P 500 Price Chart

Pound Sterling CPI Inflation Report

On Wednesday, the Pound Sterling experienced a knock on the foregn exchange market after UK CPI Inflation came out at 9%. Although the market was expecting a figure of 9.1%, the actual figure is 2% higher than the 7% reflected in March.

Most of the inflation hike has been attributed to the rising energy costs experienced in April. The UK market and Pound Sterling may see some relief due to the CPI inflation target exceeding investor expectations.

Sources: poundsterlinglive.com, finance.yahoo.com