Stocks rose again on Wall Street as traders made their final moves before a report Tuesday that's expected to show inflation in the U.S. slowed again during August.
Beyond Tuesday’s headliner report on inflation at the consumer level, a report on Wednesday is expected to show inflation slowed at the wholesale level last month. A report the following day will show how U.S. households have altered their spending amid high inflation, while a Friday report will show how much inflation households are preparing for in upcoming years.
Jonathan Golub, chief U.S. equity strategist at Credit Suisse, wrote in a report that investors and economists expect inflation to collapse within the next 12 to 18 months.Markets are fairly convinced the Fed will hike its key short-term interest rate by a hefty 0.75 percentage points next week for the third straight meeting. But the hope is that an easing of inflation will allow the Federal Reserve to successfully tiptoe the narrow pathway for a “soft landing” of the economy.
Demmert said the broader market is looking for inflation to not just peak, but to start cooling meaningfully. He said the strong hopes for Tuesday’s inflation report are likely “not going to be healthy for stocks.” A strong dollar helps to limit inflation at home by pushing down on prices for commodities and imports, but it can also hurt profits for U.S. companies that have a lot of sales coming from overseas. The dollar gave up some of its gains on Monday after slipping against the euro, British pound and several others.Treasury yields were mixed. The 10-year Treasury yield, which helps control where mortgages and rates for other loans are heading, is back at 3.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New York seeks new private school regulations following allegations against yeshivasThe state Education Department is proposing new regulations of private schools after years of allegations that some NYC yeshivas failed to teach students in English or cover basic math and science. Read more:
Read more »
Former MLB pitcher turned cop dies in car crash on way to 9/11 ceremonyAnthony Varvaro, 37, was an officer for the Port Authority of New York and New Jersey.
Read more »
Former MLB pitcher-turned-police officer Anthony Varvaro dies in car crashAnthony Varvaro was killed in a car accident Sunday morning on his way to work at the Sept. 11 memorial ceremony in Manhattan, according to police officials and his former teams.
Read more »
New Horror-Comedy CENSUS Exposes The Supernatural Side of NYC (Exclusive)Screen Rant is thrilled to announce Census, a new horror/comedy comic series that sends one slacker to account for every supernatural being in New York City. Out September 13 from comiXology, by marcbernardin, MrAdamFreeman, and SebastianPiriz.
Read more »
Former MLB pitcher-turned-police officer Anthony Varvaro dies in car crashVarvaro, 37, was an officer for the Port Authority of New York and New Jersey.
Read more »
Former MLB pitcher-turned-police officer Anthony Varvaro dies in car crashHe was killed in a car accident Sunday morning on his way to work at the Sept. 11 memorial ceremony in Manhattan, according to police officials and his former teams.
Read more »