TSX:FTN - Post Discussion
Post by
mouserman on Feb 16, 2024 9:36am
Inflation comes in hot
US stocks retreated on Friday after another hotter than expected inflation reading undermined the case for interest-rate cuts.
The S&P 500 (^GSPC) fell just below the flat line in the wake of another record closing high, while the Dow Jones Industrial Average (^DJI) dipped 0.3%. The tech-heavy Nasdaq Composite (^IXIC) wavered.
The producer price index, a key gauge measuring wholesale inflation, jumped 0.3% in January from the prior month, more than the 0.1% rise expected by economists.
The market has been on a ride this week as a series of mixed data prompted investors to keep reassessing their view of the US economy, Federal Reserve policy thinking, and the timing of interest rate cuts.
The Dow sank 500 points just a day after notching an all-time high as a surprisingly hot consumer inflation report spurred a rout earlier this week.
Be the first to comment on this post