Wall Street Enjoys Late-Week Rally On Benign Inflation Data, Dow Jones Eyes Best Session Of 2024, Tech Unwinding Stalls: What's Driving Markets Friday?
After a turbulent week in the markets, the bulls reclaimed dominance on Wall Street during Friday’s session, with indices and sectors trading in positive territory as investors welcomed the latest corporate earnings results and further confirmation of inflation progressing toward the Fed’s 2% target.
In June, the Personal Consumption Expenditure price index – the Fed’s preferred measure of inflation – dropped to 2.5% year-on-year, as anticipated, marking the lowest level since February 2021.
Investors are unwavering in their expectations for a Fed interest rate cut in September, assigning it a 100% probability and factoring in nearly three cumulative rate cuts by year-end.
The story "Wall Street Enjoys Late-Week Rally On Benign Inflation Data, Dow Jones Eyes Best Session Of 2024, Tech Unwinding Stalls: What's Driving Markets Friday?" has 417 words across 20 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Wall Street Enjoys Late-Week Rally On Benign Inflation Data, Dow Jones Eyes Best Session Of 2024, Tech Unwinding Stalls: What's Driving Markets Friday?" was covered 10 hours ago by Benzinga, a news publisher based in United States.
How trustworthy is 'Benzinga' news outlet?
Benzinga is a fully independent (privately-owned) news outlet established in 2010 that covers mostly technology news.
The outlet is headquartered in United States and publishes an average of 31 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.