AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading lower Wednesday alongside several companies in the broader communications, media and entertainment industry amid overall market weakness as investors digest the latest U.S. inflation data, which came in higher-than-expected.
The consumer price index increased 8.3% in April from the prior year, which was lower than the 8.5% increase in March. However, the number came in above the Dow Jones estimate of 8.1%. Although the CPI number was lower than it was in March, 8.3% is still near the highest levels in 40 years.
