Wall Street rebounds on softer inflation data, eyes on earnings

NEW YORK, April 11 - U.S. stocks rebounded from a steep sell-off on Thursday as fresh economic data rekindled hopes that inflation remains in a cooling trend.

On Wednesday, hotter-than-expected CPI data sent stocks sharply lower and benchmark Treasury yields to their highest level since November. The report doused hopes that the central bank could implement as many as three rate cuts before year-end, possibly starting as soon as its June policy meeting. John Williams, President of the Federal Reserve Bank of New York, said"there's no clear need to adjust monetary policy in the very near term."

Investors now switch their focus to first-quarter earnings season, with results from three major U.S. banks - JPMorgan Chase & Co , opens new tab, Citigroup Inc , opens new tab, and Wells Fargo & Co , opens new tab - due Friday morning. Globe Life , opens new tab tumbled 43.4% after Fuzzy Panda Research disclosed a short position in the company, alleging multiple instances of insurance fraud.

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: Wall Street opens higher, edging back toward recordsNEW YORK (AP) — Stocks are opening higher on Wall Street. The S&P 500 rose 0.3% early Tuesday, coming off a listless performance where it edged a bit further from its all-time high set last week.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Stock futures pop as Wall Street looks to continue record-setting runA bullish mood is prevailing on Wall Street.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Wall Street's most bullish strategist cites a 'big surprise' pushing stocks higher: Morning BriefAs stocks rally to record highs, Wall Street strategists continue to raise their forecasts to keep pace.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares trading mixed after Wall Street’s momentum coolsTOKYO (AP) — Asian shares were mixed in muted trading Tuesday, as buying in some markets was soon erased by profit-taking. Japan's benchmark Nikkei 225...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »