Stocks mixed as Wall Street closes strong week; crypto falls | amNewYork

Hikes to such rates can cause a recession and drag down on stock prices. They’ve been the main reason for Wall Street’s struggles this year.

The median expectation for inflation in the coming year among households rose to 5.1% from 5% a month earlier, according to a survey by the University of Michigan. Expectations for long-run inflation, meanwhile, ticked up to 3%. But that’s still within the same 2.9% to 3.1% range where they’ve been for 15 of the last 16 months.

Traders are increasingly betting that the rate could top out around a range of 4.75% to 5% by early next year, according to CME Group. A week ago, they saw a higher ultimate rate as more likely, with a sizable chunk expecting something like 5.25% to 5.50%. Companies that do a lot of business in China and around the region were particularly strong Friday following the relaxation of some anti-COVID restrictions. Wynn Resorts rose 6.9%, and Las Vegas Sands gained 5.7%.

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Wall Street washout as stocks tumble, crypto dives furtherStocks on Wall Street closed sharply lower, giving back a big chunk of the gains built in a three-day rally running up to Election Day. The Dow finished down about 646 points on uncertainty about the control of Congress. Ya work your whole life to save money to retire, then liberals steal it to fund equity programs. Grotesque. Ohhhh nooo are corporations going to have to pay TAXES They smelled another tax cut.....aaaaaaaand not too fast!
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