Stock pushed to new highs as consumer inflation cooled more than expected following three months of upside surprises, boosting hopes for sooner rate rates and sending Treasury yields sharply lower
Stocks ignored a hotter-than-expected inflation report as Federal Reserve chairman Jerome Powell said the current level of interest rates is working to curb inflation. In commodities, copper continued its bull run to fresh 2-year highs at $11,000t ($5.05lb) on shortage concerns.
Stocks as investors awaited key inflation report due later this week that will likely play a role in shaping the Federal Reserve’s monetary policy outlook.
Fletcher Building, a prominent construction group, witnessed a significant 11% drop in its stock value following a reduction in its fiscal 2024 earnings guidance. The company attributed this decline to a “notable slowdown” in New Zealand house sales and a faltering property market in Australia.
Stocks edged higher Friday night to clinch a fourth-weekly win as the broadening out of the rally amid mostly stronger quarterly results continued to support stocks just as signs of sticker inflation and a weaker consumer confuses the outlook for interest rates
The DOW notched its 7th straight gain for the day as slightly higher US jobless claims pushed Treasury yields back to levels prior to rate hike chatter in early April
Another quiet night in markets as stock ended flat due to a bounce in Treasury yields and earnings disappointments from ARM, AirBnB, Uber and Shopify
It was a quiet night in markets as equities finished mixed as investors continued to digest a slew of corporate earnings including weak subscriber growth from Disney
We are now starting to see opportunities in quality companies that have a high yield, reasonable price and growth prospects over the medium to long term
Sell 7% BHYB to buy 4% WOW and 3% BHP
Equities started the week on the front foot Monday as revived hopes for a September Federal Reserve interest rate cut triggered a sea of green across Wall Street.
Anticipating next week’s economic figures. Stay informed on the latest financial updates and trends.
Equities surged to a higher close on Friday as a softer-than-expected employment report bolstered the case for rate cuts from the Federal Reserve while also providing evidence of U.S. economic resilience.
