Wall Street is becoming more comfortable with the story line that interest rates are set to remain higher for longer, according to BMO Capital Markets. The latest consumer price index report for August showed stickier-than-expected core inflation, raising concerns that the Federal Reserve might impose another quarter point interest rate hike before the end of the year, further delaying an eventual easing in credit policy.
mountain Adobe will report quarterly results after the closing bell on Thursday. San Ramon, California-based oil titan Chevron is benefiting from higher energy prices, with U.S. crude reaching its highest level since November 2022 on Thursday . Shares of Chevron have slipped about 7% from the start of the year.
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