US stocks rallied for the fourth straight day on optimism that the Federal Reserve will be able to curb inflation without tipping the economy into a recession.
Investors have been whipsawed in the past two weeks between concern over runaway inflation and the fear of a US recession. The Federal Reserve’s last meeting showed that policy makers resolved to continue raising rates, a promise restated by Bullard and Waller on Thursday. But a flurry of economic data that released this week has hinted at slower growth, calming investors over the pace of tightening needed.
Worries about a brutal recession may have also been alleviated by latest data which showed that consumer spending has remained resilient despite inflation. An inverted yield curve, however, still signals fears of a recession are not over. Commodities were boosted on Thursday as China’s Ministry of Finance is said be considering allowing local governments to sell 1.5 trillion yuan of special bonds this year. But the Bloomberg Commodity Spot Index is still down about 21 per cent from a June high.
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TSX opens higher as energy, mining stocks gain - BNN BloombergCanadian stocks opened higher Thursday morning amid broad-based gains led by Canada’s mining and energy sectors. Right across the border in Upstate New York is my RareEarths, Battery and Critical Metals Deposit, the Most Important CriticalMinerals deposit in North America, 100 Years Of Industry, Environmentally Friendly & Sandharvestable, 1/10th the cost of Hardrock!!!!
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Stocks rise after traders parse data, U.S. Fedspeak - BNN BloombergU.S. stocks rose and Treasuries slid as investors grappled with fresh economic data that showed slightly slower growth, prompting some to consider the Fed’s reiterated hawkish stance in its June meeting minutes as outdated.
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Stocks, U.S. futures rise as inflation worries ease - BNN BloombergU.S. stock-index futures rose as softer oil prices and a weaker dollar signaled fears about inflation and the pace of monetary tightening are fading.
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