Wall St set for higher open as cool inflation data lifts rate cut bets

Quick Summary:

Wall Street's main stock indexes were poised for a higher open on Friday as a report closely watched by the Federal Reserve showed inflation moderating in line with expectations, strengthening hopes for early interest rate cuts this year.

However the blue-chip Dow was on pace to end the quarter down 1%, highlighting the divergence between the more tech-heavy indexes and the rest of the market.

It shows the Fed measures are working and keeps a soft landing still on table," said Jay Woods, chief global strategist at Freedom Capital Markets.

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Category: EconomyBusiness

Markets: Malaysia

Topics: Wall Street Interest rate Nasdaq Inflation Federal Reserve Markets /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 21:15:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 563 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21409972

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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Headquarters: Malaysia

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