A broad slide for stocks on Wall Street Friday has the market on pace to end a turbulent week of trading in the red as investors weigh the latest updates on inflation expectations, consumer spending and corporate earnings.
"I don't think that technically or fundamentally means anything because a whole lot hasn't changed," said Sylvia Jablonski, chief investment officer at Defiance ETFs."I don't think we're likely to see any sense of direction or stability in the near term." Inflation, though cooling in some areas of the economy, remains stubbornly hot overall. A survey from the University of Michigan on Friday showed that consumers raised their expectations for future inflation. It also showed that overall consumer confidence remains surprisingly strong despite high prices on a wide range of goods.
Good luck buying a house now, all you libs complaining about housing costs! This will hit you harder than the rising home prices from the last couple years.
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:
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.
Asian markets fall as hot U.S. inflation reading could push Fed toward more big rate hikesAsian stocks fell Thursday ahead of an update on U.S. inflation that investors worry will reinforce the Fed's plans for more aggressive interest rate hikes.
Source: MarketWatch - 🏆 3. / 97 Read more »
Stocks mount biggest comeback in years; S&P 500 jumps 2.6%NEW: Wall Street staged its biggest comeback in years, as stocks roared back from steep morning losses caused by a worse-than-expected report on inflation.
Source: ABC - 🏆 471. / 51 Read more »
Stocks drop on Wall Street following hot inflation reportNEW YORK (AP) — A worse-than-expected report on inflation is hitting Wall Street Thursday, and stocks are falling toward their weakest levels in almost two years. The S&P 500 was 1.4% lower in morning trading after a government report showed inflation is spreading more widely across the economy, with one closely followed component accelerating to its hottest level in 40 years.
Source: AP - 🏆 728. / 51 Read more »
Stocks rally as inflation remains stubbornly highU.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. 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. Can we please talk about CORPORATE PROFITS!
Source: CBSNews - 🏆 87. / 68 Read more »
Wall St drops as consumer data stokes inflation worryU.S. stocks dropped on Friday as worsening inflation expectations kept intact worries that the Federal Reserve's aggressive rate hike path could trigger a recession, while investors digested the early stages of earnings season.
Source: Reuters - 🏆 2. / 97 Read more »
Here’s how ‘rare’ S&P 500’s ‘violent’ reversal was after Thursday’s inflation report — and what history shows may come next, according to BespokeThe U.S. stock market took an unusual swing after Thursday’s inflation report. Bullish divergence is still playing out, more bears that try to pile on the. The more that will get squeezed. We’re going higher see ya at 3900 then we can chat about the next pull back
Source: MarketWatch - 🏆 3. / 97 Read more »