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  • Wall Street stocks largely shrugged off signs of rising inflation and the surprise halt to use of Johnson & Johnson's coronavirus vaccine on Tuesday, finishing a volatile session mostly higher. The S&P 500 edged to a fresh record, while the Nasdaq jumped more than one percent, even as the Dow pulled back. US health authorities recommended pausing the J&J Covid shot over blood clot fears. The company quickly announced it would delay its European rollout, in a setback for global immunization campaigns. Shares of airlines and other sectors tied to the economic recovery initially plunged, but later clawed back some of their losses. Delta Air Lines ended down 1.2 percent while Expedia lost 0.5 percent. The J&J problem "isn't great news, obviously, but it's nothing people need to go crazy over," said JJ Kinahan of TD Ameritrade. "We had good momentum with vaccinations heading into summer, and this might slow the momentum, but the other two vaccines are still working well." The Dow Jones Industrial Average dipped 0.2 percent to end at 33,677.27, with J&J falling 1.3 percent. The broad-based S&P 500 gained 0.3 percent to 4,141.59, topping its record from last week, while the tech-rich Nasdaq Composite Index rose 1.1 percent to close at 13,996.10. Surging energy prices led the charge as US consumer prices jumped 2.6 percent in the 12 months through March, the Labor Department said. Excluding volatile food and energy components, CPI in March rose 1.6 percent, year-over-year, with a 0.3 percent gain in the month. Analysts also are looking ahead to Wednesday's unofficial earnings kickoff, with reports from JPMorgan Chase and other large banks. jmb/hs
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  • US stocks mostly shrug off J&J vaccine problem
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