US stocks ended Thursday in the green but gave up the biggest gains of the day as investors assessed the outlook for monetary policy on the back ofThe Dow Jones Industrial Average was up nearly 450 points at one point earlier in the session before selling off as the day went on.
Investors are at odds over whether July's inflation data, which showed prices rose at a slower pace than expected but still faster than what was clocked in June, is enough for the Federal Reserve to make its long-awaited dovish pivot. "[W]e think the July CPI report adds weight to the case for a September pause. However, what is good enough for a pause is unlikely to be the same as what is good enough for a cut," analysts from BNP Paribas wrote in a note.
While a pause would be welcomed by stock market investors, inflation falling closer to the Fed's 2% target is what would be needed to solidify the outlook for interest rate cuts by the first quarter of next year, observers say. That could also coincide with what many believe will be a mild US recession in the early part of 2024.
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 news today: Indexes finish July with robust monthly gainsUS stocks rally late to finish July with robust month of gains
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: US stocks fall ahead of July CPI reportUS stocks fall as investors brace for July CPI report
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market outlook: July CPI report to spark a big rally for stocksThis week's inflation report will spark a big rally in the stock market, Fundstrat says
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: Indexes rise ahead of tech earnings, Fed meetingUS stocks rise ahead of big tech earnings and the Fed's next rate move
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: Indexes open new month lowerUS stocks fall to begin new month after big rally in July
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: Indexes mixed amid earnings, economic dataUS stocks trade mixed amid earnings rush and fresh economic data
Source: BusinessInsider - 🏆 729. / 51 Read more »