Stocks are rallying again. Are they out of the woods?

US stocks have come roaring back barely a week after a bruising global sell-off. Markets were rattled after the Bank of Japan raised interest rates in late July for the second time this year. That led the yen carry trade, in which investors borrow ultra-cheap yen to buy other higher-yielding assets, to begin unraveling. That unwinding came to a head last week, when Japanese stocks logged their worst day in decades. In the US, a dismal July jobs report sparked fears of a recession.

9% for the 12 months ended in July, edging below 3% for the first time since March 2021, according to the Bureau of Labor Statistics. US wholesale price hikes also slowed. The latest retail sales report offered more good news. Sales at US retailers rose 1% in July from the month before, up from June’s downwardly revised decline and far above economists’ expectations. That’s a sign that the US consumer, a key support of the US economy, remains resilient.

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.

Buy the dip in tech stocks including Nvidia amid market uncertainty, Bank of America saysThe Wall Street investment bank said investors should buy these top tech stocks right now.
Source: CNBC - 🏆 12. / 72 Read more »

Bank of America's stocks to help you sleep at night after wild weekThe Wall Street bank is offering up some stocks to help investors sleep soundly during bouts of market volatility.
Source: CNBC - 🏆 12. / 72 Read more »

Japan stocks plunge 7%, extending last week's rout; other Asia-Pacific markets also fallInvestors will look toward key trade data from China and Taiwan this week, as well as central bank decisions from Australia and India.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Asia-Pacific markets poised to fall; Japan stocks set to continue last week's routInvestors will look toward key trade data from China and Taiwan this week, as well as central bank decisions from Australia and India.
Source: nbcchicago - 🏆 545. / 51 Read more »

European stocks to extend declines after Bank of England rate cut as global sentiment soursEuropean markets were set to extend losses Friday after the Bank of England narrowly approved an interest rate cut.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »