U.S. stock indexes rose on Wednesday after inflation data largely met high expectations, easing some fears that the Federal Reserve would pull back support, with megacap technology stocks offering the biggest boost.
Data from the Labor Department showed the consumer price index increased 0.5% last month after rising 0.8% in November, while in the 12 months through December, the CPI surged 7.0% to its highest year-on-year rise in nearly four decades.
Economists polled by Reuters had forecast a CPI gain of 0.4% for December and 7.0% on a year-on-year basis."Investors were bracing for even hotter in inflation than what we actually saw. As bad as the number is and as much inflationary pressure that's in the economy there was a little relief in that," said Anthony Saglimbene, Ameriprise Financial's global market strategist in Troy, Michigan.
"Today's inflation report validates the Fed trajectory and means they don't have to be any more aggressive than is already priced in." The central bank's plan for easing accommodation to fight inflation includes raising interest rates, which analysts expect to start as soon as March, as well as tapering its bond buying program and reducing its asset holdings.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
150+ NY Groups Back Public Banking Bill to Declare 'Independence From Wall Street'\u0022From the South Bronx to Buffalo, New Yorkers will benefit from public financing services that will prioritize access, affordability, and growth, all while putting local dollars to work.\u0022
Consulte Mais informação »
Wall Street still not convinced on Bitcoin $100K this year: JPMorgan surveyWho will have the last laugh? JPMorgan Chase asked its clients “where do you see Bitcoin trading at 2022 year-end?” and just 5% said they saw the digital coin reaching $100,000.
Consulte Mais informação »
Y2K 2.0 Was the Biggest Street Style Trend of 2021In 2021, street style partied like it was 1999, taking inspiration from the early 2000s.
Consulte Mais informação »
Additional session added to in-person open house for Market Street Bridge project: PennDOTOpen house sessions will start at 10 a.m. and 6 p.m. on Jan. 18.
Consulte Mais informação »
Superdry opens global flagship store on Oxford Street
Consulte Mais informação »