NEW YORK — Stocks are churning slightly higher on Wall Street after a highly anticipated report showed inflation accelerated across the country last month, but not by much more than expected. The S&P 500 was up 0.2% in early trading Wednesday. The Dow was up 119, and the Nasdaq composite was up 0.2%. The report said U.S. consumers paid prices last month that were 3.7% higher than a year earlier, up from July’s inflation rate of 3.2%.
Fed policymakers remain concerned about inflation, even though it has fallen considerably from highs above 9%. The Fed's interest rate hiking campaign, which has raised borrowing rates to the highest level in 22 years, was supposed to cool the economy and job market. But the labor market remains tight and consumer spending fairly strong.
Stocks have been see-sawing in recent weeks amid the revived uncertainty about whether the Federal Reserve is done with its avalanche of hikes to interest rates. The central bank has raised rates 11 times in the since March of 2022, trying to get inflation back down to its target of 2%. “This scenario underscores the delicate balance between energy costs, inflationary pressures, and the central bank’s monetary policy actions, which can have profound implications for the broader economic landscape,” he said.
In Europe at midday, Germany's DAX shed 0.8%, the CAC 40 in Paris declined 0.7% and the FTSE 100 in London gained 0.4%.
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.
Stock market today: Wall Street ticks higher to reverse some of last week's lossesU.S. stocks are ticking higher Monday as Wall Street recovers some of its losses from last week. The S&P 500 was 0.3% higher in midday trading, coming off its first losing week in the last three. The Dow Jones Industrial Average was up 47 points, or 0.1%, at 34,624, as of 11 a.m. Eastern time, and the Nasdaq composite was 0.5% higher.
Source: CTVNews - 🏆 1. / 99 Read more »
Stock market today: Wall Street rises to reverse some of last week’s lossesNEW YORK (AP) — U.S. stocks closed higher, recovering roughly half of Wall Street’s losses from last week. The S&P 500 rose 0.7% Monday. The Dow Jones Industrial Average added 87 points, and the Nasdaq composite climbed 1.1%.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Asian shares trade mixed after Big Tech rally on Wall StreetTOKYO (AP) — Asian shares were trading mixed Tuesday following a Big Tech rally on Wall Street, as investors awaited an update on U.S. consumer prices set for later in the week. Japan's benchmark Nikkei 225 surged 1.0% to 32,776.37. Australia's S&P/ASX 200 added 0.2% to 7,206.90. South Korea's Kospi shed 0.8% to 2,536.80. Hong Kong's Hang Seng dropped 0.2% to 18,056.17, while the Shanghai Composite fell nearly 0.2% to 3,137.73. The Federal Reserve is weighing whether to keep raising interest rat
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street edges lower at the open ahead of inflation reportsNEW YORK (AP) — Stocks are drifting lower as Wall Street waits to see what reports coming up this week on the economy and Big Tech companies say. The S&P 500 slipped 0.2% early Tuesday. The Dow fell 28 points and the Nasdaq composite fell 0.3%.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Asian shares slide after tech, rising oil prices drag Wall St lowerStocks fell Wednesday in Asia after a slide in technology stocks dragged Wall Street lower ahead of a key report on U.S. inflation. Hong Kong's Hang Seng lost 0.2% to 17,986,56 and the Shanghai Composite index sank 0.8% to 3,113.18. Japan's Nikkei 225 index shed 0.2% to 32,706.52, while the Kospi in Seoul edged 0.1% lower, to 2,533.61. Australia's S&P/ASX 200 gave up 0.7% to 7,154.60. Shares rose in India and Taiwan but fell in Southeast Asia. Regional markets have been relatively quiet ahead of
Source: YahooFinanceCA - 🏆 47. / 63 Read more »