NEW YORK — Wall Street got back to climbing after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. The S&P 500 gained 0.8% Wednesday to break a two-day losing streak and finished just short of its all-time high. Big Tech stocks led the way, which drove the Nasdaq composite up 1.8% to top the 20,000 level for the first time. The Dow Jones Industrial Average lagged with a dip of 0.2%.
Traders are betting on a 95% probability of that, according to data from CME Group, up from 89% a day before. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target.Wednesday’s report said U.S. consumers paid prices in November that were 2.7% higher than a year earlier.
On Wall Street, Stitch Fix jumped 47.8% after the company that sends clothes to your door reported a smaller loss for the latest quarter than analysts expected. It also gave financial forecasts for the current quarter that were better than expected, including for revenue. After terminating the merger agreement Albertsons said it plans to boost its dividend 25% and increased the size of its program to buy back its own stock.
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.
Wall Street stocks end lower after inflation data, tech stocks push Nasdaq downThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Stock market today: Wall Street drifts after inflation update comes in as expectedNEW YORK (AP) — U.S. stocks drifted near their records after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates. The S&P 500 ended little changed Wednesday.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street opens higher as it heads for a winning weekNEW YORK (AP) — Stocks are opening higher on Wall Street, keeping the market on track for its fifth gain in a row. The S&P 500 was up 0.1% in early trading Friday. The Dow Jones Industrial Average climbed 65 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street drifts as Target tumblesNEW YORK (AP) — U.S. stocks drifted to a mixed finish, though the modest moves for indexes masked some thrashing underneath the surface. The S&P 500 ended barely changed Wednesday after trading lower for much of the day.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street slips below its records as bitcoin briefly pops above $100,000NEW YORK (AP) — U.S. stocks slipped below their records in the runup to a big jobs report due on Friday. The S&P 500 edged down 0.2% Thursday after setting an all-time high for the 56th time this year the day before.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street holds steady ahead of inflation reportNEW YORK (AP) — U.S. stock indexes are drifting in the runup to the latest update on inflation due out Wednesday. The S&P 500 was flat early Tuesday, a day after pulling back from its latest all-time high.
Source: SooToday - 🏆 8. / 85 Read more »