Stocks soar on wholesale inflation slowdown; Fed rate cut hopes rise | Stan Choe

NEW YORK—US stocks rallied Tuesday to one of their best days of the year after the first of several highly anticipated reports on the economy this week came in better than expected.

Treasury yields eased in the bond market following the inflation data, as traders remain convinced the Fed’s meeting next month will bring the first cut to interest rates since the Covid crash of 2020. The yield on the 10-year Treasury fell to 3.84 percent from 3.91 percent late Monday. Such questions weigh because even cuts to interest rates haven’t been enough for stocks to rise significantly in the ensuing 18 months if a recession hits, according to Chris Haverland, global equity strategist at Wells Fargo Investment Institute.

Elsewhere on Wall Street, Starbucks soared 24.5 percent after it convinced Brian Niccol to leave his job as CEO of Chipotle Mexican Grill to take over the coffee chain. He will start as chairman and chief executive next month and will replace Laxman Narasimhan, who is stepping down immediately. Japan’s market has been viciously volatile recently, including the worst drop for the Nikkei 225 since the Black Monday crash of 1987. It’s been swinging since a hike to interest rates by the Bank of Japan forced many hedge funds and other investors to abandon a popular trade all at once, where they had borrowed Japanese yen at cheap rates to invest elsewhere. The forced selling that followed the surge in the Japanese yen’s value reverberated around the world.

Nvidia, the company whose chips are powering much of the move into AI, has been at the center of the action. After soaring more than 170 percent through the year’s first six and a half months, it plunged more than 20 percent over the ensuing three weeks.

ایران آخرین اخبار, ایران سرفصلها

Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.

PH stocks decline ahead of US Fed meeting this weekDefining the News
منبع: MlaStandard - 🏆 20. / 55 ادامه مطلب »

PH stocks climb on positive comments from US FedDefining the News
منبع: MlaStandard - 🏆 20. / 55 ادامه مطلب »

PH stocks rebound on rate cut hopesDefining the News
منبع: MlaStandard - 🏆 20. / 55 ادامه مطلب »

Calm returns to Wall Street; stocks bounce back after their worst drop in nearly 2 yearsNEW YORK—A rising tide swept stocks higher, and calm returned to Wall Street after Japan’s market soared earlier Tuesday to claw back much of the losses from its worst day since 1987. The S&P 500 climbed 1 percent to break a brutal three-day losing streak.
منبع: BusinessMirror - 🏆 19. / 59 ادامه مطلب »

PH stocks climb on bargain hunting, track Wall St. rallyDefining the News
منبع: MlaStandard - 🏆 20. / 55 ادامه مطلب »