Markets today: Stocks climb as retail sales allay ‘growth scare’

BNN Bloomberg's Jon Erlichman looks at how North American markets are shaping up for the trading day.

Given the recent worries over the labour market, the jobless claims data was another positive, he noted. After a weak payrolls report, there were worries that the Fed waited too long to cut rates. While it would still be appropriate to lower rates next month, the data should buy officials some time until the September meeting, Kenwell concluded.

To David Russell at TradeStation, investors fearing a potential recession or sharper slowdown have less to worry about. If the economy continues to be resilient – especially in conjunction with slowing inflation – then the Fed can begin a rate cutting cycle without the economy entering recession and history shows this is an extremely positive environment for the stock market, he concluded.

The jobs market — and what it means for consumer spending, the biggest driver of U.S. economic activity — is a key factor in why the Fed is expected to start cutting interest rates next month. Measures of consumer sentiment have been subdued as the labor market cools and the presidential election nears, overshadowing progress in taming inflation.

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.

Markets today: Stocks climb after PPI as Starbucks surges 20%Stocks rose and bond yields fell after the latest U.S. inflation reading reinforced speculation the U.S. Federal Reserve will be able to deploy its widely anticipated interest-rate cut in September.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Markets today: Stocks climb as jobs data quell economic jittersStocks rose and bonds fell after the latest labour-market reading helped ease fears about a more pronounced economic slowdown.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Markets today: Stocks climb around the world on dovish BOJ signalStocks climbed around the globe and bonds fell after the Bank of Japan moved to reassure markets in the wake of historic volatility sparked in part by the Asian nation’s unexpected rate hike last week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

What markets want to see out of Q2 earnings growthSecond quarter earnings from major companies are continuing to pile in this week, from Alphabet (GOOG, GOOGL) and Tesla (TSLA) to UPS (UPS), as investors...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »