U.S. stock indexes opened mostly higher on Thursday after inflation data closely watched by the Federal Reserve shows price pressures are easing. The personal consumption expenditures index showed the rate of inflation rose 0.3% in October, while the core gauge that strips out volatile food and energy costs, rose 0.
2% last month, below the consensus estimate of 0.3% collected from economists by Dow Jones. The S&P 500 rose 0.3%, while the Dow Jones Industrial Average shed 0.2% and the Nasdaq Composite gained 0.4%. The 10-year Treasury yield decreased after the report. Elsewhere, reports suggested China is set to announce an easing of its COVID-19 quarantine protocols in the coming days and a reduction in mass testing.
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:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market news: Dow, S&P 500 and the Federal ReserveThe stock market will respond to reports on GDP and jobs, speeches by Jerome Powell and Janet Yellen, and to business leaders speaking at the DealBook conference Wednesday.
Source: CNN - 🏆 4. / 95 Read more »
Federal Reserve chair signals slowdown in rate hikes, stocks rally on Wall StreetWall Street closed out a solid November with a broad market rally Wednesday after the head of the Federal Reserve said the central bank could soon begin easing up on its aggressive interest rate increases aimed at taming inflation.
Source: DenverChannel - 🏆 239. / 63 Read more »
Fed 'pivot' to lower interest rates will be bullish for stocks. But timing is everything.Of 13 major Fed pivots over the past seven decades, in only five of them did the stock market bottom in advance. Here’s one big reason why the bottom doesn’t always happen before the Fed begins to reduce interest rates. Do you really think Powell’s going to go there? I don’t, I expect him to be hawkish.
Source: MarketWatch - 🏆 3. / 97 Read more »