Stocks rally, driving Wall Street to a rare winning week

  • 📰 latimes
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 82%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Stocks racked up more gains on Wall Street on Friday, as the S & P 500 had its best day in two years and just its second winning week in the last 12 to provide a bit of relief from the market’s brutal sell-off this year.

The gains are a reprieve from Wall Street’s tumble through most of the year, caused by the Fed’s and other central banks’ slamming into reverse on the tremendous support fed into markets through the pandemic. In hopes of beating down

Such weakening data raise worries about the strength of the economy. But they also can be good for financial markets, as paradoxical as that may seem. One nugget in the consumer sentiment report could carry particular weight for markets. It showed consumers’ expectations for inflation over the long run moderated to 3.1% from a mid-month reading of 3.3%. That’s crucial for the Fed because expectations for higher inflation in the future can trigger buying activity that inflames inflation further in a self-fulfilling, vicious cycle.

That has helped yields in the Treasury market recede. The yield on the two-year Treasury, which tends to move with expectations for the Fed’s actions, dropped back to 3.06% from more than 3.40% in the middle of last week.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Confidence in our SCOTUS leaders is returning, shows investors are anti genocide

Some good news on a not so great day on Twitter💯👍🏽🇺🇸

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Asian stocks mixed after Wall St declines on recession concernsAsian stock markets were mixed Thursday after Wall Street edged lower amid fears that higher interest rates will chill global economic growth.
Source: MarketWatch - 🏆 3. / 97 Read more »

'Strong growth ahead': Bank names its top EV battery stocks, giving one over 60% upsideInvestment bank Nomura says some of the global stocks offer investors 'resilience in volatile times.' Does anyone know how to make it commission free? floki Stock markets have crashed over 25% lately. Wonder how much EVs will crash over the next 5 years. EV Market is a minefield. Easy to get blown up.
Source: CNBC - 🏆 12. / 72 Read more »