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Published: Sept. 13, 2022 at 10: 11 a.m. ET President Joe Biden said in a statement Tuesday that the August data for consumer prices “show more progress in bringing global inflation down in the U.S. economy. Overall, prices have been essentially flat in our country these last two months: that is welcome news for American […]
The selloff in the consumer discretionary sector was unanimous Tuesday, as disappointing inflation data sparked fears that consumers would pull back on spending as prices keep rising, and as the Federal Reserve could trigger a recession with continued aggressive interest rate increases. The SPDR Consumer Discretionary Select Sector exchange-traded fund XLY, -3.94% dropped 3.3% in […]
Bank stocks fell with the broad market in early trades on Monday, as Wall Street absorbed the impact of bearish Consumer Price Index data. JPMorgan Chase & Co. JPM, -3.15% fell 2.1%, Goldman Sachs Group Inc. GS, -3.58% dropped 2.2%, Citigroup Inc. C, -2.88% subtracted 2% and Wells Fargo & Co. WFC, -4.55% gave up […]
U.S. stocks opened sharply lower Tuesday as investors reacted to a stronger-than-expected inflation reading for August. The Dow Jones Industrial Average DJIA, -2.67% dropped more than 500 points, or 1.7%, soon after the opening bell, while the S&P 500 SPX, -3.05% fell 2.2% and the technology-heavy Nasdaq Composite COMP, -3.83% dropped 2.9%, according to FactSet […]
The British pound against the US dollar continues to recover. The current quote is 1.1717. Morning statistics demonstrated that the unemployment rate in Britain in July suddenly dropped to 3.6% from 3.8% earlier. Also, average earnings in the previous quarter grew by 5.5% against the forecast 5.4% and previous growth by 5.2%. Mind the unemployment […]
The market major on Tuesday remains strong, the current quote is 1.0148. No important news was published yesterday, so investors had enough time to show their positive attitude in the quotes. At the meeting in September the ECB gave absolutely unambiguous signals of readiness to make its credit and monetary policy tougher. This will take […]