Stagflation fears rise on resilient US economy and sticky core inflation
With around 40% of S&P 500 constituents reporting earnings last week including heavyweights Microsoft (MSFT:NASDAQ) and Alphabet (GOOG:NASDAQ), the micro picture was widely expected to be the main investor focus.As things turned out, a surprisingly weak first quarter GDP (gross domestic product) print and higher-than-anticipated March inflation gave investors and the Federal Reserve further pause