Stocks decline and dollar rebounds as Fed readies rate cuts

Aug 22 - Stocks fell and the dollar gained on Thursday as traders digested fresh economic data and awaited confirmation from the U.S. Federal Reserve on Friday that it will soon start to cut interest rates.

On Thursday, fresh data showed the number of Americans filing new applications for unemployment benefits rose in the latest week, consistent with a gradual cooling of the labor market. "If they are not announcing that they have won on inflation, they are saying they expect to win relatively soon," Englander wrote in an email on Thursday.

They added to initial gains after data for the euro zone showed surprising strength in business activity this month.Oil prices rallied after losses driven by investors worried about the global demand outlook. U.S. crude and Brent both gained about 1.4% on the day.

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.

Fed responds to economic data, not politics or stocks, says Chicago Fed's GoolsbeeChicago Federal Reserve Bank President Austan Goolsbee on Thursday reiterated that the central bank's job is not to respond to stock market routs or...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Fed responds to economic data, not politics or stocks, says Chicago Fed's GoolsbeeThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Asia stocks firm, dollar sags with US yields on Fed cut betsAsian stocks were firm on Thursday while the dollar remained on the back foot amid lower U.S. Treasury yields after benign consumer inflation data overnight ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »