Stock market today: Wall Street ticks higher after inflation data clears the path for cuts to rates

NEW YORK — Wall Street ticked higher after the latest update on inflation came in almost exactly as economists expected. The S&P 500 rose 0.4% Wednesday, coming off one of its best days of the year. The Dow Jones Industrial Average added 0.6%, and the Nasdaq composite ended basically flat. Treasury yields were steady after the U.S. government said consumers paid prices for food, gasoline and other things last month that were 2.9% higher than a year earlier.

The data should keep the Federal Reserve on track to cut its main interest rate at its next meeting in September, a move that Wall Street has long been looking forward to. The Fed has been keeping rates at an economy-crunching level in hopes of stifling inflation that topped 9% two years ago, and lower rates would ease the pressure on both the economy and on prices for investments.

If most of the data over the next few weeks points to a slowing economy, he said the Fed may cut more aggressively. That includes a report coming up Thursday about how much U.S. shoppers spent at retailers. The two-year yield, which more closely tracks expectations for the Fed, rose to 3.96% from 3.94% late Tuesday, as traders weigh whether September’s anticipated cut will be the traditional or jumbo-sized move.

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.

Stock market today: Wall Street holds steady after an inflation report comes in as expectedNEW YORK (AP) — Wall Street is holding relatively steady after the latest update on inflation came in almost exactly as economists expected. The S&P 500 was up 0.1% in early trading Wednesday, coming off one of its best days of the year.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street opens higher after inflation report comes in better than expectedNEW YORK (AP) — U.S. stocks are rising, and Wall Street is relaxing a bit after the first of several highly anticipated reports on the economy this week came in better than expected. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street is steady ahead of big tests coming later in the weekNEW YORK (AP) — Wall Street is holding relatively steady, as markets around the world stabilize following a wild week. The S&P 500 was up 0.3% in early trading Monday. The Dow Jones Industrial Average rose 58 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Stocks wobble as Wall Street looks to end volatile week on high noteA wild week on Wall Street is coming to a close.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »