Stock market today: US stocks edge higher as wholesale inflation rises less than expected

US stocks opened slightly higher on Thursday after a cooler-than-expected reading on producer prices helped soothe investor worries stemmed by Wednesday's surprise uptick in consumer prices. The Dow Jones Industrial Average gained 0.1% and S&P 500 opened 0.2% higher, coming off a rout that saw the gauges drop about 1%. The tech-heavy Nasdaq Composite gained roughly 0.4%. Meanwhile, the 10-year Treasury yield traded around 4.

The market is now pricing in just two rate cuts in 2024, to come later in the year than foreseen. A handful of analysts believe no cuts or even a hike may be possible, depending on how economic data shape up. Across the pond, the European Central Bank held rates steady at record highs but gave a clear signal that rate cuts were on the way. Read more: What the Fed rate decision means for bank accounts, CDs, loans, and credit cards.

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Stock market today: US futures in holding pattern in wait for CPIInvestors are biding their time until the key March CPI inflation report lands as they wrestle with uncertainty around interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares mostly rise as investors look to earnings and inflation signsTOKYO (AP) — Asian shares mostly rose Monday as investors looked ahead to earnings reports from top global companies and a consumer prices report that will...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks rise as investors eye the Fed, Super Micro slumps on stock offering: Yahoo Finance LiveAll three of the major indexes (^DJI,^GSPC, ^IXIC) are moving higher as investors await the Federal Reserve’s latest interest rate decision, which will come ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »