&P 500 was 1.9% higher in morning trading after a report showed inflation is still high but heading lower. Stocks of smaller and mid-sized banks recovered some of their prior plunges caused by worries that customers could yank out all their cash. Treasury yields soared to trim their historic drops.
Tuesday's report showed that inflation at the consumer level was 6% in February, versus a year before. That matched economists' expectations and was a slowdown from January's 6.4% inflation rate, but it's still way above the Fed's target. "Inflation met expectations, but is still uncomfortably hot. Financial stresses are intense. Prudence would dictate they pause, but couple it with a stern warning that if inflation trends don't improve that they might need to hike more."
Traders rushed Monday to place some bets that the Fed could decide to keep rates steady at its next meeting, instead of accelerating to a hike of 0.50 percentage points as they thought a week ago. Following the inflation data, bets are largely falling on it sticking with an increase of 0.25 points later this month, according to data from CME Group.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks leap higher on Wall Street, led by beaten down banks: Watch LiveStocks are leaping on Wall Street Tuesday, as some of the most breathtaking moves from a manic Monday reverse course. You can only flood the market with cheap printed devalued dollars so many times. There can only be so many bailouts. At some point, kicking the can down the road will result in a boomerang effect. Try urinating against the wind, see how that works out for you.
Source: abc7newsbayarea - 🏆 529. / 51 Read more »
Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
Source: cleveland19news - 🏆 70. / 68 Read more »
Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
Source: wsfa12news - 🏆 338. / 59 Read more »
Bank stocks drop and S&P 500 swings as Wall Street shakesNEW YORK (AP) — Wall Street is worried about what may be next to topple following the second- and third-largest bank failures in U.S. history, and stocks are swinging sharply Monday as investors scramble to find someplace safe to park their money. Poor rich people. I here Switzerland is nice this time of year. You can even evade taxes there. 😭😭✋🏿💀💀✋🏿✋🏿Goddess has been working on ending the 1% since 2021😭😭✋🏿✋🏿💀
Source: AP - 🏆 728. / 51 Read more »
Bank stocks dive as Wall Street trembles amid SVB failureTrading halted at more than a dozen regional banks after prices continued to free fall. But Biden said citizens shouldnt worry… Let’s go Brandon 🙄 Thats interference w markets. Let them go to 0.
Source: CBSNews - 🏆 87. / 68 Read more »
Play ultimate defense with these stocks that rise when volatility goes wild on Wall StreetAs economic uncertainty grows, investors can look at these defense stocks to beat the Street.
Source: CNBC - 🏆 12. / 72 Read more »