Fed’s preferred gauge showed core inflation at 3.0% in August, much lighter than expected
- U.S. stocks gained after August consumer prices rose 3.4% from a year earlier, below economists’ 3.7% forecast but above the Federal Reserve’s 2% target.
- The S&P 500 rose 0.4%, while the Nasdaq gained 0.9%.
- Traders reduced expectations for a Federal Reserve rate increase next month, seeing a 39% chance compared with about 50% the previous day, according to CME Group data.
- Hewlett Packard Enterprise and Nvidia helped lift the market, while Cal-Maine Foods fell after reporting a larger-than-expected quarterly loss.
221 Articles
221 Articles
Bedford Gazette
Wall Street holds steadier following a potentially encouraging update on inflation
Some of the pressure that’s ballooned in the bond market is easing after a report said inflation across the United States wasn’t as bad last month as economists expected. The better-than-expected data helped some Treasury yields pull back a bit…
Five Questions DEMS Should Face In Light Of Latest Inflation Numbers
Latest inflation numbers dropped yesterday. They’re not only trending in the right direction, but beating expectations by a modest degree, too. Here’s the reporting. Judge for yourself: BREAKING: Core U.S. inflation came in at 3%, below expectations according to the Fed’s preferred inflation gauge. FOX Business called it “LESS INFLATION than we thought,” while CNBC described the reading as “MUCH lighter than expected.” That immediately puts the…
The Dow Jones lost 0.86% and the expanded S&P 500 index fell by 0.25%. Only the Nasdaq index finished in the green (+0.24%). According to the PCE index published on Wednesday, prices rose by 3.4% over a year in the United States in August. The market was down by 3.7%. At the same time, US economic growth in the second quarter was significantly revalued upwards (+2.2% annualized, compared to +1.5% previously reported). "These reports have strengt…
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