The market opened higher on Friday as stocks rallied on the back of solid economic data and the Federal Reserve’s new inflation policy that will keep interest rates lower for longer.The Dow Jones Industrial Average was up 0.2%, over 50 points, on Friday, while the S&P 500 rose 0.2% and the tech-heavy Nasdaq Composite gained 0.5%.
The Dow is trying to erase its 2020 losses and turn positive for the year, after briefly doing so on Thursday: The index has now climbed nearly 57% from the market’s low point in March. Stocks moved higher after U.S. consumer spending rose by a moderate 1.9% in July, the third straight monthly increase, according to data from the Commerce Department.announced
a “robust updating” of policy in which the Fed will allow inflation to run “moderately” above its long-running 2% goal. Meanwhile, sentiment was held in check by an ongoing stalemate over the next coronavirus stimulus bill: House Speaker Nancy Pelosi spoke to White House chief of staff Mark Meadows for the first time in weeks on Thursday, but said that both sides remain at a “
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
skleb1234 I got evicted and unemployed.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks Open Higher After Consumer Spending Beats Expectations In JulyThe market has continued to hit new record highs this week. Amazing how well the economy has done and how well some businesses have boomed even during a worldwide pandemic. Its great to see, when the pandemic passes we will have a massive boom in the travel industry next which leads to many jobs. It’s an artificial “boom”. This is the result of the USTreasury buying over a trillion dollars in corporate bonds.
Source: Forbes - 🏆 394. / 53 Read more »
Momentum stocks put S&P 500, Nasdaq on course for new highsWall Street advanced on Wednesday as upbeat earnings kept investors focused on momentum stocks that have outperformed since the onset of the coronavirus pandemic. Based on what reality? I'm a cat, so I don't invest in the Stock Market, but apparently neither does my human. She seems perturbed. Something about more than 50% of households not invested. Mnuchin and Co. pumping money into the Market, blah, blah. She better have money to buy me food,just sayin'. 😼 UnitedStates & EU stockmarkets fireworks do Not reflect real economy blues. Covid19 pandemic reveals mercyless weakness of Western capitalism & closing gap between China & Unitedstates monopoly capitalism & personal cult. SpokespersonCHN ccp will correct course
Source: Reuters - 🏆 2. / 97 Read more »
Stocks making the biggest moves midday: Salesforce, Urban Outfitters, Roku, Moderna & moreCheck out the companies making headlines in midday trading. PrimeWednesdayService To those who received him, who believed in his name, he gave the authority to become children of God. (John 1:12) I am still eating from food banks and haven't paid my rent in 4 months. Blessed people, on this beautiful Wednesday evening, you are kindly welcomed to this PrimeWednesdayService of the Ministry of Repentance and Holiness. It's live on air 📢
Source: CNBC - 🏆 12. / 72 Read more »
Investors with too much cash are jumping into stocks, joining Robinhood crowd to boost marketMutual funds continued to trim their exposure to safe assets this month as money market funds saw outflows for the third month in a row, according to Barclays. Pro Get ready for the crash of the centuries! Pro And we know how that story ends...
Source: CNBC - 🏆 12. / 72 Read more »
Stocks making the biggest moves after hours: NetApp, Williams-Sonoma, Box & moreSee which stocks are posting big moves after the bell.
Source: CNBC - 🏆 12. / 72 Read more »
European stocks fall ahead of Powell speech as banks slideA cautious mood prevailed in European equity markets on Thursday as investors looked ahead to the U.S. Federal Reserve Chairman Jerome Powell's outlook on monetary policy. Eventually, all the US currency being generated out of thin air to make up for loss of revenue from corporate tax cuts and now the pandemic, is going to collapse the economy. The inflation will be violent.
Source: Reuters - 🏆 2. / 97 Read more »