{"id":125553,"date":"2024-11-14T01:15:11","date_gmt":"2024-11-13T18:15:11","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=125553"},"modified":"2024-11-14T01:15:11","modified_gmt":"2024-11-13T18:15:11","slug":"wall-street-drifts-near-record-highs-after-an-in-line-inflation-report","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=125553","title":{"rendered":"Wall Street drifts near record highs after an in-line inflation report"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>NEW YORK (AP) \u2014 U.S. stocks are drifting near their records Wednesday after <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/inflation-prices-interest-rates-economy-federal-reserve-8ee9d1e7979319fe9ae121c7c8d6d68b\">the latest inflation update<\/a><\/span> boosted hopes that more help for the economy will arrive next month from another cut to interest rates.<\/p>\n<p>The S&amp;P 500 rose 0.3% in afternoon trading, coming off its <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/stock-market-inflation-trump-bitcoin-china-b6d1f03881765e3c6f68f3ec9126424a\">first loss<\/a><\/span> since before Election Day last week. The Dow Jones Industrial Average was up 182 points, or 0.4%, as of 12:34 p.m. Eastern time, and the Nasdaq composite was 0.1% higher.<\/p>\n<p>Stocks got support from easing yields in the bond market. The yield on the two-year Treasury, which closely tracks expectations for actions by the Federal Reserve, fell to 4.28% from 4.34% late Tuesday. The yield on the 10-year Treasury held steady at 4.43%. Treasury yields mostly fell after a report said the inflation that U.S. consumers felt last month was exactly as economists expected. It accelerated to 2.6% from 2.4%, but an underlying measure called \u201ccore inflation\u201d did not accelerate. Economists say core inflation can be a better predictor of future trends. <\/p>\n<p>\u201cBang in-line core inflation leaves the Fed on track to cut rates in December,\u201d according to Lindsay Rosner, head of multi sector fixed income investing at Goldman Sachs Asset Management.<\/p>\n<p>The Fed began cutting interest rates from their two-decade high in September to offer support for the job market, hoping to <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/jobs-hiring-election-economy-inflation-unemployment-presidential-dcf54cd3b40f01ca78bccf86cd8e13d5\">keep it humming<\/a><\/span> after bringing <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/inflation-prices-election-federal-reserve-rates-economy-e4ff4b6745ea1c8badd6a0502f372f25\">inflation nearly all the way down<\/a><\/span> to its target of 2%. It cut again earlier this month, and traders now see an improved probability of roughly 82% that it will cut a third time in roughly a month, according to data from CME Group.<\/p>\n<p>The question is what will happen in 2025. Prior forecasts published by the Fed implied it could keep cutting rates through next year. But <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/election-day-trump-harris-white-house-83c8e246ab97f5b97be45cdc156af4e2\">Donald Trump\u2019s victory<\/a><\/span> in the presidential election may have scrambled those plans. Economists say his preferences for <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/donald-trump-wins-second-term-policies-de3dcf0f173b42602b258042fd7aaafb\">lower tax rates<\/a><\/span>, higher tariffs and less regulation could ultimately lead to <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/trump-inflation-tariffs-taxes-immigration-federal-reserve-a18de763fcc01557258c7f33cab375ed\">higher U.S. government debt and inflation<\/a><\/span>, along with faster economic growth.<\/p>\n<p>While lower interest rates can give a boost to the economy and to prices for investments, they can also give inflation more fuel. <\/p>\n<p>Still, Wednesday\u2019s data was reassuring for the market following a run of stronger-than-expected data on the economy, which could have signaled upward pressures on inflation. <\/p>\n<p>\u201cThe market may be concerned that we are at an inflection point, with inflation potentially returning to an upward trajectory,\u201d said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. \u201cWe see inflation modestly higher next year. We don\u2019t think today\u2019s CPI data will do much to the market.\u201d <\/p>\n<p>On Wall Street, Rivian Automotive jumped 18.4% after the electric-vehicle company gave more details about a joint venture it\u2019s entering with Volkswagen Group that they had previously announced. <\/p>\n<p>The deal\u2019s total size could be worth up to $5.8 billion, which is more than the $5 billion the companies had previously said. The deal includes a $1.3 billion cash payment from Volkswagen to Rivian for licensing of background intellectual property and a 50% stake in the joint venture. <\/p>\n<p>Spirit Airlines\u2019 stock lost 58.5%. The airline said in a regulatory filing that it\u2019s still trying to work out a deal to renegotiate the repayment of its debt, and if it can reach an agreement, it could wipe out the company\u2019s stockholders. But it could also protect employees and customers.<\/p>\n<p>Other airlines were among the market\u2019s leaders, including gains of 2.1% for Southwest Airlines and 1.7% for United Airlines. <\/p>\n<p>In stock markets abroad, Japan\u2019s Nikkei 225 fell 1.7% after its wholesale inflation rate reached its highest level since July of last year. South Korea\u2019s Kospi sank 2.6% after Samsung Electronics shares fell to their lowest level in over four years.<\/p>\n<p>Indexes were modestly lower across much of the rest of Asia and Europe. <\/p>\n<p>In the <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/bitcoin-price-record-trump-election-rally-crypto-9a22f5b5ce24824d7df5a3ab4a58e8a0\">crypto market<\/a><\/span>, bitcoin crossed above $90,000 as cryptocurrencies generally soared. <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/donald-trump-bitcoin-cryptocurrency-stockpile-6f1314f5e99bbf47cc3ee6fc6178588d\">Trump has embraced cryptocurrencies <\/a><\/span> and pledged to make his country the crypto capital of the world. <\/p>\n<p>Dogecoin, a cryptocurrency that\u2019s been a favorite of Tesla\u2019s Elon Musk, rose roughly 9%, according to CoinDesk. Trump named Musk as one of the heads of a <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/donald-trump-president-elon-musk-vivek-ramaswamy-2f0f76bb6440231f2504b77cb117d988\">\u201cDepartment of Government Efficiency,\u201d<\/a><\/span> or DOGE for short.<\/p>\n<h2>___<\/h2>\n<p>AP Writer Zimo Zhong contributed. <\/p>\n<\/p><\/div>\n<p><script>\n  window.fbAsyncInit = function() {\n      FB.init({\n              appId : '870613919693099',\n          xfbml : true,\n          version : 'v2.9'\n      });\n  };\n  (function(d, s, id){\n     var js, fjs = d.getElementsByTagName(s)[0];\n     if (d.getElementById(id)) {return;}\n     js = d.createElement(s); js.id = id;\n     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n     fjs.parentNode.insertBefore(js, fjs);\n   }(document, 'script', 'facebook-jssdk'));\n<\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/apnews.com\/article\/stock-market-inflation-trump-bitcoin-china-394a0f6b3c08e07d014590e4835372f1\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (AP) \u2014 U.S. stocks are drifting near their records Wednesday after the latest inflation update boosted hopes that more help for the economy will arrive next month from &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=125553\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-125553","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125553"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125553\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}