News Formal

Business Maverick: Stocks skyrocket in best post-CPI day on record: markets wrap

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 84%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Stocks surged in a buy-everything relief rally after slower-than-projected price growth spurred bets the Federal Reserve can downshift its aggressive rate-hike path.

The S&P 500 climbed 5.5% for the best first-day reaction to a CPI report since at least 2003 when records began. About 96% of stocks in the benchmark were in the green, the broadest advance since 4 October, according to Bloomberg data. The rally caught short-sellers wrong-footed, helping spur the outsized gains. Crypto marketsHeadline inflation came in at 7.7%, the lowest since January, before Russia’s war in Ukraine pushed up commodity prices.

Treasuries soared, sending the rate on two-year notes, more sensitive to monetary policy, down 25 basis points. Rates traders downgraded the odds of another three-quarter-point rate increase in December almost to nil, while continuing to price in a half-point hike. The Bloomberg dollar index sank 2%.

Dallas Fed president Lorie Logan said it may soon be appropriate to slow the pace to better assess economic conditions. San Francisco’s Mary Daly said the moderation was “good news,” but noted “pausing is not the discussion, the discussion is stepping down”.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Business Maverick: US Stocks Roar Higher as Yields Plunge on Soft CPI: Markets WrapUS stocks surged by the most in two years and Treasuries rallied after data showing prices rose slower than forecast fueled bets the Federal Reserve can dial back its aggressive tightening efforts.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »

Business Maverick: Asian stocks fall, crypto bounces before CPI: markets wrapAsian stocks weakened after US shares fell and cryptocurrencies arrested a sharp decline that sapped risk appetite ahead of crucial inflation data due later on Thursday.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »

US stocks notch biggest gains in two years on improved inflation dataNasdaq jumps over 7% as CPI report indicates cooler-than-expected inflation
Källa: BDliveSA - 🏆 12. / 63 Läs mer »

Hospitality stocks still offering upside[ICYMI] MoneywebNow podcast with SimonPB, analysis of M&R’s sale of Clough, a look at whether we could see a cyclical dash to emerging markets and the importance of private sector involvement in conversations at COP27. Download podcast:
Källa: Moneyweb - 🏆 5. / 77 Läs mer »