A reading of inflation at the wholesale level surprised to the upside Wednesday, stoking fears that tomorrow’s report on consumer prices will likewise show that inflation remains out of the Federal Reserve’s control. The producer price index (PPI) rose 0.4% in September, well ahead of economists’ estimate for a gain of 0.2%. Year-over-year, PPI rose… Continue reading Wholesale Inflation Comes In Hot: What the Experts Are Saying
U.S. Markets Rise After Lengthy Sell-off, Despite Fears of Rate Hikes
The S&P 500 and the Nasdaq bounced on Wednesday after a five-day selloff, but inflation and rate hike worries capped the gains after a higher-than-expected rise in September producer prices. The Labor Department’s producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. The reading was still… Continue reading U.S. Markets Rise After Lengthy Sell-off, Despite Fears of Rate Hikes
US stocks dip as Fed minutes show continued hawkish resolve while CPI report awaits
US stocks dipped Wednesday after Fed minutes reiterated the central bank’s goal of taming inflation. The S&P 500 notched its sixth consecutive loss. Investors also await September consumer inflation data due out Thursday morning. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go.… Continue reading US stocks dip as Fed minutes show continued hawkish resolve while CPI report awaits
Moderna pops 17% after Merck exercises option to jointly develop a personalized cancer vaccine
Moderna spiked as much as 17% on Wednesday after the company teamed up with Merck to develop personalized cancer vaccines.Merck will pay Moderna $250 million under the agreement, which was initially struck in 2016. Data from an ongoing phase 2 trial of Moderna’s vaccine used in combination with Merck’s Keytruda is expected in the fourth quarter.… Continue reading Moderna pops 17% after Merck exercises option to jointly develop a personalized cancer vaccine
A Russian oil price cap will backfire on the global economy and the plan likely influenced OPEC’s production cut, Indonesian finance minister says
A price cap on Russian oil could backfire on the global economy, Indonesia’s finance minister warned. If a price cap is met with retaliation from Russia, it could result in oil prices being pushed higher. The move could also set a precedent for other commodities, which would hurt some of Indonesia’s exports. Loading Something is… Continue reading A Russian oil price cap will backfire on the global economy and the plan likely influenced OPEC’s production cut, Indonesian finance minister says
The UK’s recent market turmoil wasn’t caused by the mini-budget, and the chaos was a result of interest rate ‘differentials’, Britain’s business secretary says
The turbulence in UK financial markets stems from the gap between UK and US interest rates, acob Rees-Mogg said Wednesday. The turbulence is “primarily caused by interest-rate differentials rather than by the fiscal announcement,” he said. The pound rose Wednesday on speculation the Bank of England may extend emergency bond buying. Loading Something is loading.… Continue reading The UK’s recent market turmoil wasn’t caused by the mini-budget, and the chaos was a result of interest rate ‘differentials’, Britain’s business secretary says
Investors shouldn’t get bullish on the stock market until 3 things happen, and should use any rally to rotate out of growth names ahead of a stagflationary recession, BofA says
Investors should hold off on buying the dip in stocks until earnings begin to decline, according to Bank of America.The bank said the risk of a stagflationary recession means investors should use rallies to sell growth stocks.”Higher discount rates reward firms that produce high profits today, not speculators seeking profits far in the future,” BofA… Continue reading Investors shouldn’t get bullish on the stock market until 3 things happen, and should use any rally to rotate out of growth names ahead of a stagflationary recession, BofA says
Mortgage Rates Near 7% As Fed Aims To Cool ‘Red Hot’ U.S. Housing Market
“Application volumes for both refinancing and home purchases declined and continue to fall further behind last year’s record levels,” the Mortgage Bankers Association said Wednesday. Mortgage rates jumped to the highest levels in more than sixteen years last week, data from an industry group indicated Wednesday, as borrowing costs edged towards the 7% mark amid… Continue reading Mortgage Rates Near 7% As Fed Aims To Cool ‘Red Hot’ U.S. Housing Market
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