|
Fed Meeting Today: Stocks Fall After Powell Voices Inflation Worries — Live Updates WSJStock market today: Dow sinks 750 points, S&P 500, Nasdaq slide after Fed decision as Powell touts inflation worries Yahoo FinanceHeard on the Street Wednesday Recap: Higher for Longer? WSJUS stocks slump on worries about higher oil prices, inflation and interest rates AP News
|
|
The energy crisis is going to hit you in your 401(k) as well as in your gas tank if Jerome Powell is right.
|
|
Why Global Energy Shock Could Leave China Stronger Than Ever Crude Oil Prices Today | OilPrice.comChina cannot escape the energy shock The EconomistThe Iran war is causing oil prices to soar - can China withstand it? BBCChina's Hormuz Problem Foreign Policy
|
|
Netflix is in a better position to raise subscription prices now that it is out from under the shadow of M&A and regulatory scrutiny, Citi analyst Jason Bazinet says
|
|
Trump temporarily waives the Jones Act to try to lower gasoline prices. Will it work? NPRTrump waives U.S. shipping law for 60 days to steady oil market CNBCU.S. Suspends Oil Shipping Rules to Ease Gas Price Pressures The New York TimesOil prices spiral again as White House moves make little impact The Washington PostTrump waives shipping law as gasoline prices soar Axios
|
|
Federal Reserve Chair Jerome Powell is due to speak Wednesday on the economy and interest rates for the time since the start of the Iran conflict.
|
|
The central bank's so-called dot plot showed a median estimate of 3.4% for the federal funds rate, the same as at the end of last year.
|
|
Fed meeting live updates: FOMC holds rates steady as oil prices soar Business InsiderFed keeps rates on hold, signals one rate cut as Iran war stokes uncertainty AxiosWhat to Watch at the Federal Reserve's March Meeting The New York TimesExpectations for the next Fed rate cut get pushed back after hot inflation report CNBC
|
|
After slipping margins, the Canadian-American Retailer is looking reclaim full-price sales in style
|
|
Delta soothes investor fears over the effect of rising oil prices by raising revenue guidance, and the stock surges.
|
|
Brent crude reached its highest price since Russia invaded Ukraine in 2022. Gasoline prices in the U.S. are expected to continue to rise.
|
|
Stocks stabilized Wednesday after Tuesday's hotter-than-expected inflation data sparked Wall Street's worst selloff in over two years.
Inflation remained in focus today with the early morning release of the producer price index (PPI) for August. Similar to yesterday's consumer price index (CPI), the PPI - which measures what suppliers are charging for goods and services - rose at a slower annual clip in August than it did in July. However, on a month-over-month basis, both PPI and core PPI, which excludes energy and food prices, were up from July's figures.
SEE MORE 12 REITs Flaunting Fast-Growing Dividends
"There is a divergence in headline and core inflation building, where headline is cooling and core is heating up," says Jamie Cox, managing partner at Harris Financial Group. "That's an odd phenomenon and likely influenced by the shift from goods to services post-pandemic. The Fed should proceed with caution and not hit the emergency brake on rate hikes."
While yesterday's selling was broad-based, today's action was more mixed. In terms of sector performance, real estate (-1.2%) and materials (-1.2%) were the biggest laggards, while energy ( 2.8%) outperformed as U.S. crude futures rose 1.3% to settle at $88.48 per barrel.
Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
As for the major indexes, the Nasdaq Composite ended up 0.7% at 11,719, while the S&P 500 Index ( 0.3% at 3,946) and the Dow Jones Industrial Average ( 0.1% at 31,135) also finished with mode
|
|
