The Federal Reserve’s preferred inflation gauge gave the stock market the all-clear to cap off a stellar but turbulent month with some gains. The S&P 500 was up 0.5%. The Nasdaq Composite was up 0.8%.
Investors are looking to close out August with a modest gain, and carry some bullish momentum into a crucial autumn stretch for global markets.
(Bloomberg) -- It’s been the ultimate no-brainer for more than a year: Park your money in super-safe Treasury bills, earn yields of more than 5%, rinse and repeat. Or as billionaire bond investor Jeffrey Gundlach put it last October, “T-bill and chill.”Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherSydney Central Train Station Is Now an Architectural DestinationChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped
Attention in the short term will shift to earnings as chip maker Nvidia reports this week. Dow Jones Industrial Average futures were up 61 points, or 0.1%. S&P 500 futures were gaining 0.1% and Nasdaq 100 futures were falling less than 0.1%.
Federal Reserve Chair Jerome Powell on Friday signaled a willingness to cut interest rates, which will likely push mortgage rates down in the near term, economists say.
Stock futures were looking for direction Thursday's with markets on edge ahead of Federal Reserve Chair Jerome Powell’s speech to the Jackson Hole monetary policy conference. It will be tough for markets to take a firm direction until Powell has addressed Jackson Hole. The Fed chair’s speech on Friday could give investors a clearer signal about where interest rates are headed as the central bank gets ready to start slashing borrowing costs in a bid to support the U.S. labor market.
Dovish Fed minutes and a big revision in labor market gains has investors betting on more interest-rate cuts between now and year's end.
(Bloomberg) -- A measure of US mortgage applications for home purchases slid last week to the lowest level since February, indicating elevated housing prices are impeding a nascent upswing in demand from falling mortgage rates.Most Read from BloombergThe Serious Work That Free Play Can DoThe Mortgage Bankers Association’s index of mortgage applications to buy a home decreased 5.2% to 130.6 in the week ended Aug. 16. Refinancing applications also tumbled after surging to a two-year high in the pr
Stock futures were rising in premarket trading after economic data on inflation cemented expectations for a Federal Reserve interest-rate cut next month. Traders are now leaning slightly toward a quarter-point reduction from the Fed in September, having previously priced in almost 100% certainly of a bigger half-point move amid last week’s market turmoil, according to the CME FedWatch tool. Key points to watch today include Walmart’s earnings and retail sales, both of which will give insight into the outlook for consumer spending, the biggest part of the economy.
Wall Street extends its winning streak as investors feel more confident about the economy.
