Stocks power ahead as earnings season gathers pace after banks released mixed earnings. A rebound in China business activities and the expectations of dovish Fed-stance supported the market advance.
Market indexes advanced and investors looked beyond the drumbeat of Fed officials and mixed economic signals. Existing home sales extended recent declines and leading tech companies accelerated layoffs reflecting new economic realities.
Central bankers across the Atlantic ramped up the campaign for higher rates despite the recent economic data. Investors turned cautious on the worries that higher rates for longer may keep economic growth in check or dip into a recession.
Rate path worries and Fed's tightening stance dominated market sentiment after weekly jobless claims stayed near record low despite the rising layoffs from leading tech companies.
Stocks lost steam after the wholesale inflation eased in November. Nervous market sentiment drove popular indexes lower on the worries that the volatile crude oil and gasoline prices may just accelerate inflation in the months to come.
Investors reacted to corporate earnings and market sentiment wavered after mixed signals from Europe and China. Crude oil prices advanced on the hopes of demand recovery but the price gains also fanned inflation worries.
Stocks lacked direction after the release of earnings from Goldman Sachs and Morgan Stanley. Crude oil prices advanced after OPEC estimated oil demand recovery in 2023.
Stocks advanced and bond yields struggled after market sentiment improved after China's reopening is expected to ease supply chain pressures and weaken inflation in the U.S. and Europe.
Wall Street stocks expanded weekly gains after recession worries eased and hopes of the Fed avoiding dipping the economy into a recession. World markets advanced and focus shifted to corporate earnings season.
The Chinese government is looking to provide large financial support and relief to 30 large struggling property developers. Japanese yen rose to a seven-month high after bond yields advanced. India's moderating inflation supported market advance.
Stocks lacked direction and trimmed weekly gains after large banks reported earnings. Wells Fargo and Citigroup increased loan loss provisions and Bank of America and JPMorgan Chase forecasted mild recession in the year.
Tech stocks extended rally for the fifth day in a row after cooling inflation supported the case for a smaller rate hike. Treasury yields inched lower after inflation decelerated for the sixth month in a row.
December inflation moderated for the sixth month in a row in the U.S. after energy prices fell sharply but housing inflation remained elevated and showed no signs of easing. European markets advanced. China's inflation accelerated.
