Stocks closed higher on Wall Street after the government reported that inflation cooled more than expected last month, cementing expectations that the Federal Reserve is about to dial down the size of its interest rate hikes.
December 13, 2022, 4:53 PMFILE - A street sign is seen in front of the New York Stock Exchange in New York, Tuesday, June 14, 2022. AP Photo/Seth Wenig, File)
The Dow Jones Industrial Average flipped briefly to a loss before ending 0.3% higher, while the Nasdaq composite rose 1% after shedding most of a 3.8% gain.last month from 7.7% in October and more than 9% in the summer. Even though inflation remains painfully high, and shoppers continue to pay prices well above levels from a year ago, Tuesday’s report offers hope that the worst of inflation really did pass during the summer.
Such increases slow the economy by design, in hopes of cooling conditions enough to get inflation under control. But they also risk causing a recession if rates go too high, and they push down on prices for stocks and all kinds of other investments in the meantime. Smaller hikes to interest rates would mean less added pain to both the economy and to markets.
Other central banks around the world, including the European Central Bank, are also likely to raise their own rates by half a percentage point this week.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Stocks leap on Wall Street after cooler inflation dataNEW YORK — Wall Street roared in relief Tuesday after a report showed inflation cooled more than expected last month, raising the chances that the economy can...
Les mer »
World markets extend Wall St losses; China COVID cases riseWorld shares fell Monday after last week’s decline on Wall Street, while signs of a s urge in coronavirus infections in China suggested progress may be uneven as it rolls back its “zero-COVID” pandemic restrictions.
Les mer »
Emma Tucker Named New Editor of The Wall Street Journal, Succeeding Matt MurrayVeteran U.K. journalist Emma Tucker was named the next editor in chief of The Wall Street Journal, succeeding Matt Murray, who oversaw significant digital growth and guided the news organization through the Covid-19 pandemic
Les mer »
Wall Street Journal Names Emma Tucker Its First Female Editor-in-ChiefEmma Tucker is the next editor-in-chief of the Wall Street Journal and Dow Jones Newswires — the first female in the top editorial role at the News Corp business outlets. Tucker, currently ed…
Les mer »
Stock Market Today: Dow Closes Up 500 Points Ahead of CPI Report, Fed MeetingThe Dow jumped more than 500 points as investors looked ahead to inflation data and a Fed policy meeting this week
Les mer »
Wall Street rises ahead of year's last barrage of rate hikesStocks are closing higher on Wall Street at the start of a busy week where central banks are likely to unload the year’s final barrage of interest rate hikes
Les mer »