The stock market slipped again on Thursday after Wall Street dialed back rate-cut expectations in the wake of the latest inflation data and comments from Fed Chair Jerome Powell. The Nasdaq Composite was down 0.6%. The producer price index for October rose 0.2%, which was in line with the consensus among economists.
Equities Lower After Fed Chair Powell's Remarks, Producer Prices Report
The stock market was struggling in the wake of the latest inflation data, but industrials were getting hit especially hard. Wall Street may be considering the impact of cuts to government spending planned by Elon Musk and Vivek Ramaswamy as part of the Department of Government Efficiency. The Dow was down 0.4%, while the S&P 500 was down 0.5%.
WASHINGTON (Reuters) - High union wage settlements and the possibility of coming tariff increases are among the uncertainties that could make U.S. Federal Reserve officials more...
NEW YORK (Reuters) -A gauge of global stocks fell for a third straight session on Thursday while the dollar climbed, after U.S. labor market data and comments from Federal Reserve Chair Jerome Powell suggested a slower path of rate cuts from the central bank. The Labor Department said initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 217,000 for the week, slightly below expectations for 223,000 by economists polled by Reuters, suggesting the weak October government payrolls report was an anomaly. In the latest inflation reading, the producer price index for final demand rose 0.2% last month, matching expectations, after an upwardly revised 0.1% gain in September.
By Michael S. Derby NEW YORK (Reuters) -Federal Reserve governor Adriana Kugler said Thursday the central bank has made considerable progress in working to achieve its job and...
Equities Fall Intraday as Traders Weigh Producer Prices Data
US Equity Indexes, Treasury Yields Fall as Producer Price Inflation Marches Higher
(Reuters) - Futures tied to the Federal Reserve's policy rate edged down after data showed wholesale prices firmed a little more than expected last month, though not enough to...
FRANKFURT (Reuters) - A European Central Bank rate cut last month was seen as an insurance move against unexpectedly low inflation but policymakers appear divided on the risk of...