So Wall Street decided to stop fretting over inflation, backed up by equally soothing comments by some Federal Reserve officials. The gains look set to carry on Tuesday.
The team estimated those savings have mostly sat untouched this year, with the bulk concentrated among higher earners. “This savings rate spike was largely driven by a shortfall in service spending, which in turn was largely driven by higher income households,” said Darby and the team. “Not only did the volume of customers sink, but hospitality was one of the few sectors that experienced outright price deflation. The good news is that the sharp decline in new COVID-19 cases is being accompanied by improving expectations for the labor markets,” said Darby and the team.to earnings assumptions. Indeed, the turnaround is akin to a cyclical movement,Among the buy-rated companies highlighted by Jefferies, shares of online travel giant Booking BKNG, -0.
“I think there will come a time when we can talk more about changing the parameters of monetary policy, I don’t think we should do it when we’re still in the pandemic,” said St. Louis Fed President James B. Bullard, to Yahoo Finance. He also warned investors to tread carefully with cryptocurrencies. “We have a couple of thousand of these around, most of them are worthless,” he said
Online retailer Amazon.com AMZN, +0.38% is nearing a deal to buy Hollywood studio MGM Holdings for almost $9 billion, say sources.