2 PM Market Flash: Acadia Healthcare, Centene long picks by Greenlight's Einhorn at Sohn conf (ACHC:NASDAQ) | Markets React to Rising Infla
Rising inflation and the costs of conflict with Iran are weighing on Wall Street this hour. The S&P 500 slipped from record highs as hotter than expected inflation data raised fresh doubts about the pace of future rate cuts while the Pentagon said the price tag for the Iran war has climbed to nearly 29 billion dollars. SPX is trading at 7383.01 up just four one hundredths of a percent on the session with the VIX at 18.12 up a tenth of one percent. In the Asian market traders are watching President Trump downplay differences with China's Xi Jinping over the Iran conflict as he heads to Beijing for a high stakes summit. Bitcoin is trading at 80,434 down 1.4 percent over the past 24 hours reflecting the broader risk off tone. I am your VixShield news reporter. Back to you, Russell.