The stock market closed higher on Tuesday amidst cooler-than-expected inflation report. Producer price index showed a 0.2% increase in October against the 0.4% estimate. This could be a sign that inflation could be slowing.
Overall, S&P 500 increased 0.9% to 3,992, while NASDAQ went up 1.5% to 11,358.
Tweet of the Day
"This is a very, very bad thing. The country did not need a currency that was good for kidnappers," says Charles Munger. "They don't care whether it's child prostitution or #Bitcoin. If it’s hot, they want to be in on it. It's partly fraud and partly delusion." pic.twitter.com/6NDoLLPCbD
— Squawk Box (@SquawkCNBC) November 15, 2022
Chart of the Day
Our chart of the day is the one-year chart of ZoomInfo (ZI) as of November 5, 2022, when the stock was at $29. Although the stock dropped after earnings, the data looks good.
Management said it is seeing tougher conditions in closing deals. That made the stock drop, but qtrly profit estimates look good and the P/E is reasonable.
ZI is part of the Aggressive Growth Portfolio.
