Stocks rally as inflation remains stubbornly high

  • 📰 CBSNews
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 68%

Business News News

Business Business Latest News,Business Business Headlines

U.S. markets fell sharply in opening trading Thursday after an unexpectedly hot inflation report strengthened the Federal Reserve's position on the need for more aggressive interest rate hikes.

strengthened the Federal Reserve's position on the need for more aggressive interest rate hikes.

"Not only is the Federal Reserve going to raise rates by 75 bps next month, but there is now a possibility that they will raise rates by another 75 bps in December," predicted Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. "A hawkish reaction to the data could add more pressure to stocks," Anderson Alves of ActivTrades said in a report.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Only have one administration to answer , ask your self what is different than 2 years ago ,people are being bled dry with the cost to live , Biden-O-nomics have created this economic disaster , people are taking 2nd and even 3rd jobs to make ends meet , jobs report of 260k wonder

The Dow is currently up 388 at 10:30 cst. Maybe hold off on the fear articles until the market closes

Can we please talk about CORPORATE PROFITS!

I can't figure out how decreasing my stock value by 50% is helping me or the economy. I think the Fed is working for Putin at this point.

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:

 /  🏆 87. in BUSİNESS

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.

Stock Market Today: Dow Gives Back Earlier Gains, 10-Year Treasury Yield Nears 4%Markets remained skittish over the U.K. pension-rescue plan. The pound slid and Nasdaq closed in a bear market after the BOE said bond buys will end Friday. When we sell they stop falling, instead the whole market and indexes start rising quickly. Then treasury yields, war etc don’t matter. If buy again they again start falling and indexes too. If we don’t buy, then there’s no fall.
Source: WSJ - 🏆 98. / 63 Read more »

Asian stocks moving lower in wake of latest volatile session on Wall StreetJapan's yen hits 24-year low against the U.S. dollar.
Source: MarketWatch - 🏆 3. / 97 Read more »