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Dow Reaches Record Highs Above 40,000, Small Caps Ride The Rate-Cut Wave, EV Stocks Rally: What's Driving Markets Friday?
2024 Jul 12, 1:40pm | 982It’s another memorable day for the stock market, as the blue-chip Dow Jones Industrial Average Index reaches new record highs, surpassing the 40,000-mark milestone and breaking the previous peak set in May. Small caps continue their rally driven by strong bets on interest rate cuts,...
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Fed Rate Cut Expectations Boost Outlook For Gold, Mining Companies
2024 Jul 12, 10:51am | 889For much of the year, gold mining stocks have been lagging the price of the precious metal they produce. But the tables have turned, and shares are outperforming the yellow metal as mining costs have stabilized and gold prices have seen a period of profit-taking among traders. Now, heightened...
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Stocks Show Mixed Reactions To June Producer Inflation Data
2024 Jul 12, 10:34am | 625Stocks gave varied reactions on Friday morning to the June Producer Price Index from the U.S. Bureau of Labor Statistics rising 0.2% on a monthly basis. June PPI Report: Key Highlights In June, the headline PPI for final demand rose by 0.2% month-over-month, rebounding sharply from the upwardly...
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June Producer Inflation Exceeds Forecasts, Restrains Investor Euphoria Following Consumer Price Relief
2024 Jul 12, 8:45am | 441The Producer Price Index released Friday revealed a higher-than-expected increase in June, surprising investors who had grown confident about interest rate cuts following the sharper-than-anticipated drop in the monthly Consumer Price Index inflation gauge released a day earlier. On an annual basis...
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US Stocks On Track For Mixed Start Ahead Of More Inflation Data: JPMorgan, Wells Fargo Fall On Earnings
2024 Jul 12, 7:35am | 1147The major index futures traded narrowly mixed early Friday as the imminent release of the June producer price inflation report kept traders on edge as they await confirmation that inflation is sustainably decreasing. After moving sharply to the downside, bond yields have begun ticking higher, but...
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Obama-Era Economic Advisor Analyzes 'Amazing' June Inflation Data: Easing Financial Conditions Are 'Doing The Fed's Job For It'
2024 Jul 12, 1:12am | 880Jason Furman, a prominent economist and the former Chair of the Council of Economic Advisers under former President Barack Obama‘s administration, has shared his insights on the current inflation scenario in the U.S. What Happened: Furman provided an analysis of the inflation data for June in...
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Bitcoin-Critic Peter Schiff Slams Federal Reserve's Inflation Handling, Backs Return To Gold Standard; Krugman Seeks Rate Cuts
2024 Jul 11, 10:19pm | 883A prominent economist and vocal Bitcoin (CRYPTO: BTC) critic Peter Schiff criticized the Federal Reserve’s role in inflation and advocated a return to the gold standard. His comments came amid calls for rate cuts by Nobel laureate Paul Krugman. What Happened: Schiff took to X to express his...
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Could June Producer Inflation Data Dampen Market Enthusiasm For Rate-Cut Winners? 5 ETFs To Watch Friday
2024 Jul 11, 4:32pm | 449The larger-than-expected drop in the June Consumer Price Index inflation rate has fueled market expectations for interest rate cuts by the Federal Reserve. Investors no longer seem to have doubts and are assigning a 91% implied probability that rate cuts will begin as early as September 2024. The...
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'Not Enough Progress To Convince Powell It's Time To Cut Rates': Economist Sheds Doubt On Calls For Interest Rate Reductions
2024 Jul 11, 12:06pm | 581June's inflation report came in lighter than expected, sparking a rally in equity markets, particularly small-cap stocks tracked by the iShares Russell 2000 ETF (NYSE:IWM), which are more interest-rate sensitive than larger corporations. Blu Putnam, the former chief economist at CME Group, shed...
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Biden Cheers Inflation Progress, Rate Cut Chorus Grows Louder Among 5 Economists: 'This Is Just What The JayMan Needed'
2024 Jul 11, 10:34am | 689A chorus of economists now loudly predicts that the Federal Reserve will soon begin cutting interest rates following the latest cooler-than-expected inflation report. In June, the Consumer Price Index (CPI) measured by the Bureau of Labor Statistics rose by 3% year-over-year, dropping from May's...
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Inflation Slows More Expected To 3% In June, Heightens Expectations For Rate Cuts: Treasury Yields Tumble
2024 Jul 11, 8:41am | 497The Consumer Price Index in the United States slowed more than expected in June, providing further signs of progress Thursday toward returning to the Federal Reserve’s 2% inflation target and maintaining high expectations for a near-term kickoff of interest rate cuts. Last month, the average...
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Wall Street Jittery Ahead Of Key Inflation Data After Delta Air Lines, Pepsi Disappoint: Strategist Recommends Sector Picks Amid Evolving Election Dynamics
2024 Jul 11, 7:03am | 1440The futures market on Thursday reflected jitteriness as traders awaited the all-important consumer price inflation data. The broader market is amid a multi-session winning run and has been breaking records session after session, sending the valuation of especially some mega-cap stocks to...
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'Inflation Is Falling Like A Rock,' Says Market Strategist Ahead Of June CPI Data: Here's Why He Thinks Market Hasn't Topped Out Yet
2024 Jul 11, 2:41am | 695The all-important consumer price inflation report for June is due Thursday and a bullish market strategist said the data point will likely be a “reckoning of how people view inflation and the state of the economy.” Inflation Falling: The June CPI report will show that inflation is...
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Federal Reserve's Lisa Cook Foresees Swift Response To Unemployment Surge Following Jerome Powell's Testimony Before Congress: 'We Are Very Attentive'
2024 Jul 10, 11:17pm | 586Federal Reserve Governor Lisa Cook has emphasized the central bank’s readiness to act if the unemployment rate surges, in a recent statement. What Happened: Cook, speaking at an event in Australia, highlighted the Fed’s vigilance regarding the unemployment rate, reported Reuters. She...
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Jerome Powell Tells Congress The Fed Could Cut Rates If Either Of These Things Happen: 'Inflation Has A Certain Momentum'
2024 Jul 10, 12:38pm | 690Federal Reserve Chair Jerome Powell painted a very clear picture of what needs to happen before the central bank lowers rates during the second day of testimony in front of Congress. What To Know: Powell kicked off his semiannual testimony before the Senate Banking Committee on Tuesday. He began...