Inflation Archives - Page 2 of 2

Stock market today: Wall Street sinks after Fed signals fewer rate cuts next year. Dow drops 1,100

NEW YORK (AP) — U.S. stocks sank to their second-worst loss of the year after the Federal Reserve signaled that it may deliver fewer interest rates cuts in 2025 than earlier thought. The S&P 500 dropped 2.9% Wednesday to pull further from its all-time high set a couple weeks ago. The Dow Jones Industrial Average sank more than 1,100 points, and the Nasdaq composite dropped 3.6%. Fed officials released projections showing they’re penciling in just two cuts to interest rates next year, instead of the four they were projecting a few months ago. Treasury yields ramped higher to add pressure on the stock market.… Continue Reading

Federal Reserve cuts its key rate by a quarter-point but envisions fewer reductions next year

WASHINGTON (AP) — The Federal Reserve cut its key interest rate by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year than it previously envisioned, largely because of still-elevated inflation. The Fed’s 19 policymakers projected that they will cut their benchmark rate by a quarter-point just twice in 2025, down from their previous estimate in September of four rate cuts. Their new quarterly projections suggest that consumers may not enjoy much lower rates next year for mortgages, auto loans, credit cards and other forms of borrowing.… Continue Reading

Stock market today: Wall Street drifts to a mixed finish after an inflation update

NEW YORK (AP) — U.S. stocks drifted to a mixed finish after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates. The S&P 500 ended little changed Wednesday. The Dow Jones Industrial Average edged up 0.1%, and the Nasdaq composite slipped 0.3%. Treasury yields were also mixed after a report said the inflation that U.S. consumers felt last month was exactly as economists expected. That strengthened expectations that the Federal Reserve will cut interest rates for a third time this year in about a month and sent short-term Treasury yields lower.… Continue Reading

Stock market today: Wall Street slumps to a rare 3-day losing streak

NEW YORK (AP) — U.S. stocks closed lower as more steam came out of Wall Street’s huge, record-breaking rally. The S&P 500 fell 0.9% Wednesday. It was the third loss in a row for the benchmark index, the first time that’s happened in six weeks. The Dow Jones Industrial Average dropped 1%. The Nasdaq composite sank 1.6% as Nvidia and other Big Tech stocks were among the market’s heaviest weights. Momentum has reversed for stocks since the S&P 500 set a record on Friday as pressure has increased from rising Treasury yields in the bond market. Yields rose again Wednesday.… Continue Reading

Stock market today: Wall Street sets more records and closes a 6th straight winning week

NEW YORK (AP) — U.S. stocks rose to records to close out their latest winning week. The S&P 500 climbed 0.4% Friday to squeak past the all-time high it had set early this week. The Dow Jones Industrial Average added 0.1% to its own record set the day before, and the Nasdaq composite gained 0.6%. Netflix helped drive the market after the streaming giant reported stronger profit for the latest quarter than analysts expected. It marked a sixth straight winning week for the S&P 500, its longest such streak of the year. Treasury yields eased a bit in the bond market.… Continue Reading

Stock market today: Wall Street rises as tech stocks and oil prices steady themselves

NEW YORK (AP) — U.S. stocks rose following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies. The S&P 500 climbed 0.5% Wednesday, a day after sliding from its all-time high because of tumbling energy and technology stocks. The Dow Jones Industrial Average added 0.8% to set its own record, and the Nasdaq composite rose 0.3%. Exxon Mobil and other energy producers stabilized a day after tumbling with the price of crude oil. Stocks in the chip industry also held up better a day after a market-shaking warning from Dutch supplier ASML. Treasury yields eased in the bond market.… Continue Reading

Diners are skipping restaurants and making more meals at home as inflation trend inverts

NEW YORK (AP) — Eating in is in and eating out is out. That’s the message that inflation-squeezed consumers have been sending to fast-food companies and other restaurants. Meanwhile food producers are benefitting from more palatable prices in grocery store aisles. Inflation has been easing broadly for more than a year, and it’s been cooling faster for grocery items since the middle of the year. The current trend marks a reversal from previous years when grocery inflation outpaced restaurants as food producers raised prices, often while fattening their profit margins.… Continue Reading