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Waning Inflation Pressures Keep Alive Hopes for at least One Rate Cut in 2024

Jun 13, 2024
Barry Adams
Produce price inflation slowed in May, and a day ago, a report showed consumer price inflation rose less than expected. Investors bid up stocks in the hope that the waning inflation pressures may give more headroom to policymakers to approve at least one rate cut before the year is over. 

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S&P 500 and Nasdaq Composite Scale New Highs, Inflation Cooled In May and Fed Holds Rates

Jun 12, 2024
Alexander Garcia
Benchmark indexes on Wall Street advanced after inflation cooled, and the Federal Reserve held rates steady as expected. European markets continued their climb as France plunged into political turmoil. Weaker-than-expected inflation stoked deflation worries in China. Japan's wholesale inflation accelerated for the fourth month in a row. 

S&P 500 and Nasdaq Hit New Record Highs After Inflation Cooled In May

Jun 12, 2024
Barry Adams
Benchmark indexes advanced after consumer price inflation cooled in May, raising hopes for at least one rate cut before the year's end.

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Elevate Inflation Data May Upend the Fed's Narrative of Restrictive Rates

Jun 11, 2024
Alexander Garcia
Investors could be in for a surprise if consumer price inflation fails to budge amid elevated energy costs, and rising costs of shelter and food. Eleven rate hikes in 2022 and 2023 have failed to bring inflation down to 2%, indicating rates are not restrictive enough.

Caution Prevailed On Wall Street Ahead of Fed Decisions and Comments

Jun 11, 2024
Barry Adams
The Federal Reserve is widely anticipated to hold steady on its policy rate range at the end of the two-day policy meeting on Wednesday. Despite multiple rate hikes, the Fed has failed to bring inflation down to its target rate of 2% amid persistently elevated housing costs. 

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With the Expectations of the Fed On Hold, Market Indexes Rebound In Cautious Trading

Jun 10, 2024
Alexander Garcia
Investors on Wall Street looked forward to the release of the Fed's monetary policy decisions and projections. European markets turned cautious after the rise of far-right parties in the latest European Union elections. Japan's first-quarter GDP contraction was smaller than previously estimated.

U.S. Stocks Struggle Ahead of Fed's Rate Decisions, Nvidia Trades Down Post Split

Jun 10, 2024
Barry Adams
Stocks struggled in Monday's trading as investors looked forward to the Fed's monetary policy decisions and economic projections and May's consumer price inflation.

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Hot Jobs Report Dashes All Hopes of Rate Cut Next Week

Jun 7, 2024
Barry Adams
Nonfarm payrolls soared in May, the jobless rate expanded, and wage gains remained inconsistent with the Fed's target rate to achieve 2% inflation.

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U.S. Trade Deficit Expands to an 18-month High, Eurozone Bond Yields Rise After Hawkish Rate Cut

Jun 6, 2024
Alexander Garcia
The U.S.'s international trade deficit widened to an 18-month high. European bond yields edged higher after the ECB lowered rates by 25 basis points and held out for a restrictive rate policy. China is scheduled to release its international trade data on Friday. 

S&P 500 and Nasdaq Pause Ahead of Friday's Nonfarm Payrolls Report

Jun 6, 2024
Barry Adams
The U.S. goods and service trade gap widened in April after imports rose faster than exports. Weekly jobless claims edged slightly higher. Investors are looking forward to the release of nonfarm payroll data on Friday.

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Service Sector Strength and Rally In Nvidia Lift S&P 500 and Nasdaq to New Record Highs

Jun 5, 2024
Alexander Garcia
U.S. major averages inched higher into record territory, powered by another day of surges in semiconductor stocks led by Nvidia. European indexes advanced ahead of rate decisions on Thursday. India indexes rebounded a day after their worst selloff in four years.

Rate Cut Hopes Support Market Advance, Private Payrolls Growth Slows in May

Jun 5, 2024
Barry Adams
Two private economic reports stoked speculation that Federal Reserve policymakers may have room to lower interest rates later in the year. Private sector payroll expanded at a slower pace in May, and service sector growth accelerated to a nine-month high in May. 

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Rate Path and Economic Growth Worries Kept Indexes In Check Across Atlantic, India Indexes Plunged 6%

Jun 4, 2024
Alexander Garcia
Major stock averages across the Atlantic struggled to advance ahead of the U.S. nonfarm payroll report and the ECB's monetary policy decision later in the week. The Sensex in India plunged 6% after the ruling coalition is likely to return to power with a slim majority.

U.S. Major Averages Edged Lower On Economic Growth Fears, Job Openings Changed Little

Jun 4, 2024
Barry Adams
Stocks struggled to get their footing as investors debated the future path of interest rates and the Fed's timing of possible rate cuts. Job openings, hires, and separations changed little in April.

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U.S. Indexes Struggled to Advance and Treasury Yields Turned Lower

Jun 3, 2024
Alexander Garcia
U.S. major averages turned lower after manufacturing sector activities contracted for the second month in a row, raising questions about the strength of the economy. European markets advanced on the rate-cut expectation this Thursday. China's manufacturing activity growth accelerated to a 2-year high.