The market rally of the last three months faced inflation reality after overall inflation eased less than expected and core inflation stayed significantly above the Fed's target rate of 2%. Benchmark indexes declined in New York and Europe, setting the stage for a lower opening in Asia.
Benchmark indexes in New York held steady ahead of the release of the inflation report on Tuesday. European markets inched higher in record territory. Russia's trade surplus plunged in 2023 after exports to Europe fell sharply.
Benchmark indexes hovered near the flatline, the Treasury yields edged lower, and the U.S. dollar edged higher ahead of the release of inflation reports on Tuesday and Friday.
U.S. major averages are set to extend gains for the fifth consecutive week. Natural gas prices dropped to a three-year low amid weak demand and ample storage.
Benchmark indexes hovered near record highs, and tech stocks led the way in quiet trading. Natural gas prices dropped to a 3-year low after inventories stayed above normal, and weak demand conditions are likely to persist for several weeks.
Disney reported better-than-expected quarterly results and said it is on track to meet its cost-cutting goal by the end of this year. Arm Holdings reported quarterly revenue that exceeded its estimates.
The S&P 500 index inched further into record territory after a broad rally lifted tech, financial, and industrial stocks. The U.S. international trade deficit dropped to a three-year low after imports fell faster than exports.
Investors reacted to the latest batch of earnings and looked beyond rate uncertainty. The yield on 10-year Treasury notes edged down, and the dollar gained against the euro and the pound.
U.S. market averages lacked direction, and natural gas prices dropped to a nine-month low. Total U.S. consumer household debt increased at the end of 2023, and higher interest rates drove delinquencies across most debt types.
Benchmark indexes edged lower, and U.S. Treasury yields were nearly unchanged after rising in the previous session. Investors looked beyond rate uncertainty and focused on corporate results.
Stocks lacked direction and momentum as investors recalibrated the amount and timing of rate cuts this year. The U.S. Treasury yields rebounded after Fed Chair Powell clarified that a March rate cut is not likely.
Benchmark indexes turned lower after Fed Chairman Powell clarified that rates are not likely to come down in the near future. The yield on Treasury notes advanced. Crude oil traded volatile on the ongoing tensions in the Middle East and the strength of the dollar.
Investors looked beyond interest rate debate and focused on the U.S. economy's resilience, sustained growth in consumer spending, and moderately tight labor market conditions.
U.S. stocks rebounded a day after the Federal Reserve held its key lending rate steady for the fourth time in a row. The yield on 10-year Treasury notes dropped to a one-month low. Market indexes in Europe hovered near record highs.
