Stock market news today: Stocks surge as inflation soars

  • 📰 CNN
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 95%

United States News News

United States United States Latest News,United States United States Headlines

US markets staged a dramatic turnaround on strong earnings to close sharply higher. The Dow surged 828 points, its biggest percentage gain of 2022.

From CNN Business' Paul R. La MonicaShelter costs make up a big chunk of the consumer price index. So with rents rising dramatically over the past year , it's no wonder that CPI numbers continue to come in higher than expected. But there is some confusion about whether rent increases are finally peaking or not.

The government said in the CPI report that both rent and owners' equivalent rent rose 0.8% from August. The increase in owner's equivalent rent was the biggest since June 1990.), also released Thursday, showed that the median monthly rent nationwide fell 2.5% in September. “The rental market is coming back down to earth because high rents and economic uncertainty have put an end to the pandemic moving frenzy of 2020 and 2021, when remote work fueled an enormous surge in housing demand,” said“We expect rent growth to slow further into 2023 as Americans continue to hunker down and more new rentals hit the market,” Marr added.

If that's true, inflation pressures could finally start to subside more dramatically. Investors may be hoping that's the case, which is one reason to justify the big stock market surge Thursday. "There is a disconnect. With Redfin coming out and saying there is a decline in rents, maybe the Fed has something to glob on to that will allow it to slow the rate hikes," said Lamar Villere, portfolio manager with Villere & Co.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Wait! Just few minutes ago, Republicans were all mad at Biden cuz market was down.

Beware. The higher one climbs, the further one falls.

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:

 /  🏆 4. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow Closes Up 800 Points, U.S. Stocks Rally Following Inflation DataIn a major turnaround, the Dow closed up more than 800 points after investors shook off hot inflation data Sounds healthy passed this time
Source: WSJ - 🏆 98. / 63 Read more »

What stock-market investors will be watching in Thursday's inflation reportStrong consumer-price index readings were responsible for some of the stock market's biggest one-day selloffs of 2022. Investors are bracing for the next... Fire this Guy🤔 You should report what SpeakerPelosi is buying so the rest of us can get some of that legal insider trading.
Source: MarketWatch - 🏆 3. / 97 Read more »

Bill Nygren is looking to stocks with 'unsustainably low' price-earnings ratios. Here are his picksHe's looking at stocks that will perform better as market pressures recede.
Source: CNBC - 🏆 12. / 72 Read more »

S&P 500 Seesaws After Hawkish Fed Minutes, Stock Market Fate Tied to Inflation DataThe Fed minutes from the September meeting reiterate that policymakers remain resolute on the need to make monetary policy more restrictive. The S&P 500 pushes into positive territory but bullish momentum is weak. All eyes on CPI tomorrow.
Source: DailyFX - 🏆 305. / 63 Read more »