Investing.com -- The Dow closed a record highs Friday, shrugging off a wobble in tech as surging energy stocks and signs of inflation is cooling faster than expected lifted investor sentiment.US consumer spending grew at a slower than anticipated rate in August, while inflation pressures continued to ease.
Household income growth also unexpectedly slowed to 0.2% from 0.3% in July. The figure was tipped to edge up by 0.4%.), said both numbers are"slowing but not falling off a cliff." Wage gains have recently supported consumer spending activity despite some weakening in the US labor market. When stripping out volatile items like food and fuel, the so-called core PCE price index also decelerated to 0.1% month-on-month and sped up slightly as anticipated to 2.7% from 2.6% on an annualized basis.
The announcement comes as Chinese regulators are stepping up efforts to boost the country's domestic semiconductor industry and cushion the impact of U.S. restrictions,Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: wjxt4 - 🏆 246. / 63 Read more »