Stocks hit highest level in 2 months as inflation cools

A rally on Wall Street lifted stocks to their highest level in almost two months in the latest sign thatThe S&P 500 rose 54 points, or 1.3%, to close at 4,146 on Thursday after a report showed inflation at the wholesale level slowed last month by more than expected.

The Fed has hiked rates at every one of its meetings since early last year, often by double or triple the usual amount. High rates can smother inflation but only by slowing the entire economy, raising the risk of a recession and hurting prices for investments. Several of the biggest banks will report their results Friday, potentially offering more clues. One of the fears on Wall Street is that recent turmoil in the banking system could cause a pullback in lending, which in turn could weaken the economy. The Fed's staff economists see such weakness potentially causing a mild recession later this year, the central bank said Wednesday.

Bullshit. This means squat. Gas prices still high, food prices rising, cost of living at a rate we haven’t seen. Just because rich people can manipulate the stock market doesn’t mean shit to 99% of us.

Lie much?

Yeah. Aight.

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.

Bitcoin Miner Stocks Continue Torrid Run as $30K Level HoldsIt's another day of gaudy gains for the bitcoin miners as the crypto holds above $30K. $MARA, $HUT, $SDIG, $IREN, $BTBT are among the players posting double-digit advances. SteveAlpher reports SteveAlpher This is the altseason we all craved!! Number one on the top gainer list SteveAlpher Bitcoin miners breaking out on the weekly charts 👀
Source: CoinDesk - 🏆 291. / 63 Read more »

Grantham issues bleak outlook for stocks, recession, inflation: quotesElite investor Jeremy Grantham predicts stocks will tumble, recession will strike, and inflation will persist. Here are his 9 best quotes from a new interview. A demand side recession would lower demand for resources including labor, lowering prices and freeing up resources. A prediction of a large recession is inconsistent with more inflation, absent supply shocks. So, he’s buying. If u Google his predictions. He's been predicting this for the past 10 years. How does he have any credibility anymore?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Oil steady after surprise build in U.S. crude stocksOil prices were little changed in early trading on Wednesday after industry data showed an unexpected build in U.S. crude and gasoline inventories, offsetting concerns about tightening supply ahead of output cuts by OPEC producers.
Source: Reuters - 🏆 2. / 97 Read more »

Tupperware warns it could be finished as a business as stocks plummetIn the 1950s and 1960s, it was a popular trend for suburban American women to host 'Tupperware Parties' where they would sell Tupperware to their friends and family. --
Source: CBS21NEWS - 🏆 304. / 63 Read more »

Oil steady after surprise build in U.S. crude stocksOil prices were little changed in early trading on Wednesday after industry data showed an unexpected build in U.S. crude and gasoline inventories.
Source: CNBC - 🏆 12. / 72 Read more »

Asian stocks subdued ahead of US inflation data, Fed minutesMarkets wager another rate hike at the next Fed meeting.
Source: Reuters - 🏆 2. / 97 Read more »