The U.S. consumer price index (CPI) for April indicated a modest slowdown in inflation, which was roughly in line with market forecasts.
The CPI rose 3.4% year-on-year, a slight deceleration from the 3.5% increase reported in March. On a month-to-month basis, the index saw a 0.3% rise, which is less than the 0.4% anticipated and equal to the growth in March.
The Bureau of Labor Statistics (BLS) pinpointed shelter and gasoline prices as the primary contributors to the... (continue reading...)
Investing.com -- Main U.S. indexes rose Wednesday after data showed consumer prices cooled in April, lifting hopes the Fed will cut interest rates soon.
Here are some of the biggest U.S. stock movers today:
AMC Entertainment (NYSE: AMC) stock fell 26%, after this week’s hefty gains, following the cinema chain’s disclosing a debt-for-equity swap that will see it issue over 23 million shares. Meme stock peer GameStop (NYSE: GME)... (continue reading...)
BMO Capital Markets is raising its 2024 price target for the S&P 500, as they believe the robust stock market momentum is likely to persist.
In February, the investment bank’s analysts drew a line in the sand regarding the market’s outlook, setting the year-end price target for the index at 5,100. At the time, analysts believed that equities’ performance had accelerated too quickly following the significant rebound from the October 2023 low.
“Now that roughly... (continue reading...)
(Reuters) -Netflix said on Wednesday it would stream two National Football League games on Christmas Day this year, doubling down on efforts to add more live programming on its streaming service.
It will also stream at least one game on Christmas Day in 2025 and 2026 as part of the exclusive three-season agreement.
The deal marks the first time Netflix has licensed the rights to one of the world's biggest sports leagues and also the first... (continue reading...)
NEW YORK (Reuters) - U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend at the start of the second quarter in a boost to financial market expectations for a September interest rate cut.
U.S. retail sales, on the other hand, were unexpectedly flat in April as higher gasoline prices pulled spending away from other goods, indicating that consumer spending was losing momentum.
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