Stock market news today: Fed signals more interest rate hikes ahead

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

Business News News

US stocks rise as traders look past Fed warnings and brace for earnings to kick off

US stocks traded higher on Monday as investors prepare for second-quarter earnings season and shake off comments from Federal Reserve officials about more interest rate hikes.

Big banks will kick-off earnings season on Friday, which should give investors a read on the consumer and the broader economy. Investors are also preparing for the Wednesday release of the June CPI report, which will shed light on whether inflation is coming down and if more interest rate hikes from the Fed are necessary.

Other data scheduled to be released this week includes the Atlanta Fed Wage Tracker report for the month of June and the Manheim Used Vehicle Index, both of which help measure inflation. San Francisco Fed president Mary Daly said on Monday that inflation is still too high, and that a couple more rate hikes are likely necessary.

"We're likely to need a couple more rate hikes over the course of this year to really bring inflation back into a path that's along a sustainable 2% path," Daly said at the Brookings Institution.

 

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

 /  🏆 729. in BUSÄ°NESS

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: Nasdaq futures lead declines as 10-year holds over 4%Follow all the latest U.S. market action for Monday here.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock market news today: Investors await economic data and earningsUS stocks trade mixed as investors prepare for busy week of economic data, earnings
Source: BusinessInsider - 🏆 729. / 51 Read more »

Asia in wary mood for US inflation, earnings testsWeak U.S. consumer-price data could lessen the risk of another Fed rate rise.
Source: Reuters - 🏆 2. / 97 Read more »