9 AM Market Flash: S&P 500 opens muted as hot inflation data signals rates to stay on hold | Abeona Reports Strong Q1 Revenue, Expands Trea

Hotter than expected producer prices are keeping the Federal Reserve on hold and that's weighing on equities. SPX is trading at 7392.44, down 0.12 percent on the session while the VIX sits at 18.26, up 1.61 percent. In the US market the S and P 500 opened muted as the PPI data reinforced bets that rates will stay restrictive all year. Wall Street is also dumping Wix stock after the company missed first quarter revenue and earnings estimates sending shares down as much as 24 percent to a new 52 week low. Bitcoin is trading at 80172, down 0.8 percent over the past 24 hours, reflecting the broader risk off tone. I am your VixShield news reporter. Back to you, Russell.