Pinterest Inc PINS shares are trading higher by 4.51% to $27.10 going into the close of Wednesday's session. Shares of companies in the broader communications, media and entertainment industry are trading higher ahead of Thursday's CPI and jobless claims data. Investor hopes of slowing inflation could lead to expectations of softer future Fed policy.
What's Going On In The Broader Market?
The market is anticipating a critical consumer price index (CPI) inflation reading coming on Thursday morning.
Economists are expecting the U.S. Labor Department to report 6.5% CPI inflation in December, down from 7.1% in November and a peak of 9.1% in June. Economists are also projecting that core CPI inflation, which excludes volatile energy and food prices, gained 5.7% in December versus 6% in the previous month...Read More
According to data from Benzinga Pro, PINS has a 52-week high of $35.04 and a 52-week low of $16.14.
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