News Formal

Markets today: Stocks climb after PPI as Starbucks surges 20%

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 43 sec. here
  • 46 min. at publisher
  • 📊 Quality Score:
  • News: 175%
  • Publisher: 50%

Alternative Energy News

Asia,Pacific Rim,Top Asia

Stocks rose and bond yields fell after the latest U.S. inflation reading reinforced speculation the U.S. Federal Reserve will be able to deploy its widely anticipated interest-rate cut in September.

A Wall Street street sign in front of the New York Stock Exchange in New York, US, on Wednesday, July 31, 2024. --

To Ian Lyngen at BMO Capital Markets, there isn’t anything in the latest inflation data that would suggest the Fed will have any hesitation cutting rates next month. The producer price index for final demand increased 0.1 per cent from a month earlier. The median forecast in a Bloomberg survey of economists called for a 0.2 per cent gain. Compared with a year ago, the PPI rose 2.2 per cent. Excluding the volatile food and energy categories, it was unchanged in July from the prior month — the tamest reading in four months.

David Russell at TradeStation says PPI data gave gives further evidence that the tide has turned on inflation, especially in services. Bank of America Corp. clients were net buyers of U.S. equities for the first time in more than a month last week, snapping up shares during the rout and subsequent recovery.

 

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:

 /  🏆 83. 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.

Markets today: Stocks climb as jobs data quell economic jittersStocks rose and bonds fell after the latest labour-market reading helped ease fears about a more pronounced economic slowdown.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Markets today: Stocks climb around the world on dovish BOJ signalStocks climbed around the globe and bonds fell after the Bank of Japan moved to reassure markets in the wake of historic volatility sparked in part by the Asian nation’s unexpected rate hike last week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Markets today: Stocks edge higher in run-up to U.S. inflation dataStocks edged higher as traders awaited inflation data that will help shape the outlook for the U.S. Federal Reserve’s next steps.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Markets today: Stocks end week with a whimper after days of dramaStocks struggled to gain much traction at the end of a wild week as traders remained cautious after a historic surge in volatility that roiled markets around the world.
Source: BNNBloomberg - 🏆 83. / 50 Read more »