Dow up 130 points, U.S. stocks climb after another inflation update, Fed comments

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Dow intraday gain exceeds 200 points, while Nasdaq surge is twice as pronounced

U.S. stocks traded higher on Friday, but struggled to match the multi-month highs reached during the prior session, despite another encouraging reading on inflation expectations.

The headline index rose to 55.1 in August from 51.5 in July, while one-year inflation expectations dropped to 5% this month, from 5.2% the month prior. Joanne Hsu, director of the survey, pointed to a discrepancy in sentiment between low- and middle-income consumers, and the wealthier subset. “All things considered, we still think that headline inflation will drop below 2% by the middle of next year. But we would stress that the balance of risks is shifting, with downside risks now dominating. It’s no longer out of the question that headline inflation could briefly turn negative in the second half of 2023,” wrote Paul Ashworth, chief U.S. economist at Capital Economics.

His comments echoed a similarly cautious stance embraced by San Francisco Federal Reserve President Mary Daly, who said earlier that it was too soon to “declare victory” over inflation in the U.S. During an interview with the Financial Times published Thursday, Daly said a 50 basis point interest rate rise remains her baseline case for the next Fed meeting in September. However, she is not a voter on the Federal Open Market Committee this year.

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:

 /  🏆 3. in CA
 

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

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 Things to Know Before the Stock Market Opens FridayHere are the most important news items that investors need to start their trading day. 1. Follow what Pelosi’s husband buys, he some how has insight into the right sticks to buy at the right time
Source: NBCDFW - 🏆 288. / 63 Read more »