US stocks dipped on Friday as investors brace for a more hawkish Federal Reserve after key inflation data for January came in hotter than expected.
Core Personal Consumption Expenditure data, the central bank's preferred inflation measure, increased 0.6% from a month earlier, higher than economists' estimates and the most since June. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average were all headed for a losing week after swinging between gains and losses over the past few trading sessions. The S&P 500 is on track for its worst week since mid-December.
Treasury yields jumped, with the two-year yield hitting 4.79%, its highest level since 2007. The 10-year yield rose eight basis points to 3.96% "We've got an extremely difficult economy to read," Former Treasury Secretary Larry Summers said."People may be reading a bit too much into the moment in terms of economic strength — relative to the way things could look very differently in a quarter or two."
wild how wall st reacts the same way regardless of positive or negative outlook. shorting the economy
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.
Baidu stock price falls after earnings, stock buyback planBaidu stock whipsaws after Chinese search giant posts revenue beat and announces $5 billion stock buyback plan
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »