U.S. monthly inflation was unchanged in May as a modest increase in the cost of services was offset by the largest drop in goods prices in six months, drawing the Federal Reserve closer to start cutting interest rates later this year. The report from the Commerce Department on Friday also showed consumer spending rose marginally…
READ MOREU.S. stocks ended Thursday around the unchanged mark as investors awaited fresh inflation data, with the Nasdaq able to eke out a slight gain after data showed a continued slowdown in economic activity, raising investors’ hope for rate cuts. “The market is in a bit of a holding pattern here for the PCE because there…
READ MOREWall Street shares pulled back from record highs hit early on Thursday in sympathy with rallying overseas indexes, as Treasury yields shook off soft U.S. data and rose anticipating new supply next week. The dollar firmed, as higher U.S. yields widened differentials with non-dollar rates that are trending lower. It drew closer to the 160…
READ MORESynopsis In the last few days, there have been trading sessions where all of sudden IT stocks have started to do well. This is coming at a time when there is nothing positive which either companies from the sector have said or there is anything else which can be seen as signs of things changing…
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